Foresight News reports that, according to Caixin, following the joint issuance by the People’s Bank of China and seven other departments of the “Notice on Further Preventing and Disposing of Risks Related to Virtual Currencies” (referred to as Document No. 42), the regulatory framework for RWA (Real-World Asset) issuance abroad by domestic assets has begun to take shape. The overall tone of Document No. 42 emphasizes strict prohibition domestically and strict regulation abroad of RWA. According to regulatory insiders familiar with the matter, Hong Kong is one of the offshore RWA issuance locations. RWA based on assets from Hong Kong is not within the scope of regulation under Document No. 42 and is not under the jurisdiction of domestic regulators. Currently, there are no underlying assets based on domestic securities or funds in offshore RWA in Hong Kong or other locations. If there are, they fall under the responsibility of the China Securities Regulatory Commission’s Institutional Department. Additionally, it was previously “completely prohibited.” Now, “it is not said to be completely prohibited,” but there is strict regulation of domestic assets’ outbound RWA. There is no “encouragement” involved here; it should not be interpreted as “promoting development.”
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Social media platform X submits remedial measures to the European Commission regarding blue verification mark issues
Elon Musk's social media platform X submitted a remediation plan under pressure from the European Commission, following a €120 million fine for violations including "blue badge certification" issues. The EU pointed out problems including X's paid verification, insufficient advertising transparency, and non-compliant data access.
GateNews29m ago
Bank–Crypto Clash Slows Senate Clarity Act Progress
Dispute over stablecoin reward programs between banks and crypto firms has slowed progress on the Senate Clarity Act.
Banks warn rewards could trigger deposit flight, while crypto advocates say evidence of major shifts is limited.
Lawmakers including Sens. Alsobrooks and Tillis are
CryptoFrontNews1h ago
Bitcoin Policy Institute calls for revising U.S. tax rules that currently treat all BTC payments as capital gains
Gate News reports that on March 13, the Bitcoin Policy Institute called for modifications to current U.S. tax rules. Under existing regulations, all payments made using BTC are treated as capital gains transactions, requiring the payment of corresponding taxes. The institute argues that this regulation limits the practical application of Bitcoin as a means of payment.
GateNews3h ago
The first list of "Stablecoin Licenses" in Hong Kong is about to be announced! Rumors suggest they will go to HSBC, Standard Chartered, and OSL.
Hong Kong's first batch of "Stablecoin Issuer License" list will be announced next week. The three main applicants are HSBC, Standard Chartered Bank, and virtual asset platform OSL. This licensing round may favor banks due to their capital strength and regulatory advantages, while OSL possesses rich practical experience. Although rumors suggest the main list is finalized, the actual situation may still change.
区块客3h ago
