"Done. The central bank has taken action again."

I immediately clicked on the link and felt a chill.
The central bank, in conjunction with eight departments, issued a new notice. This time, it’s not small-scale; they’re serious.
They explicitly defined RWA tokenization for the first time and made a blanket ban: in principle, prohibited.
Do you know what this means?
Over the past year, RWA (Real World Assets) tokenization has been hyped as the next big trend in Web3. Property tokenization, art tokenization, bond tokenization—various projects raised billions of dollars with this concept.
And now they tell you: in China, this path is no longer viable.
Even more harshly, stablecoins pegged to the Renminbi were named specifically. Any entity or individual issuing RMB-pegged stablecoins abroad without approval is directly illegal.
I remembered a conversation I had last year with a friend working on USDC. He said, "The next step is definitely CNHC (RMB stablecoin). It’s a necessity."
Now it seems this "necessity" has been snuffed out at the cradle.
But the most despairing part isn’t these new regulations; it’s that sentence: strict supervision of domestic entities engaging in related overseas activities.
In plain language: if you go overseas to do it, we’ll regulate you too.
It’s like pouring cold water on everyone still dreaming of "saving the country through unconventional means."
A few friends I know registered their companies in Singapore and Hong Kong last year, thinking they could bypass regulations. Now they realize that the so-called "safe distance" they believed in doesn’t exist in the face of regulation.
The day before this notice was issued, someone shared a "Cryptocurrency Investment Guide for 2026" in their social circle, talking extensively about RWA investment opportunities.
24 hours later, that article became a joke.
But what I want to say is, although this crackdown is severe, it exposes a deeper issue:
We’re always waiting for regulatory approval instead of thinking about how to create real value.
RWA tokenization itself isn’t the problem; most projects are just hyping concepts without solving any real issues. Does property tokenization make buying a house easier? Does art tokenization democratize collecting?
The answer is: no.
They’re just giving speculation a new packaging.
This regulation is actually telling us: stop playing with concepts; it’s time to return to fundamentals.
Truly valuable technologies and applications won’t disappear because of a ban. The core values of blockchain—decentralization, transparency, immutability—still exist.
The question is, what problems are we using these features to solve?
Not using them to package the next "wealth secret."
The current crypto scene is like the internet bubble before the crash in 2000. Everyone talks about revolution, but no one cares about what problems this revolution is actually solving.
This regulation might actually be a good thing.
It will kill off projects that only hype concepts and bring genuine innovators to the surface.
After all, true innovation has never needed regulatory permission; it only needs user recognition.
What do you think? #Gate1月透明度报告 $BTC