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🇨🇳 China equates RWA with prohibited virtual currencies
🚨 The seven largest associations of China's financial industry have issued a joint letter – a "risk warning" – concerning the tokenization of real assets (RWA).
➡️ RWA is characterized as a risky activity, and tokens "cannot guarantee legal ownership rights."
The collective authorship of the document implies the stance of Chinese authorities, although the need for its creation was driven by the increasing use of fraudulent schemes employing the term "RWA."