“Domestic assets issuing overseas security tokens, the CSRC has finally opened the front door! But do you dare to board this 'compliance express'?”
Yesterday (February 6th), a significant new regulation from the CSRC came into effect, specifically governing the issuance of security tokens for 'domestic assets overseas'. In simple terms, in the future, if you want to use domestic underlying assets (like debt rights and income rights) to issue tokens for financing overseas, it will no longer be a gray area, but rather a clear 'official path'. However, this path has many rules!
The core points are three:
1. Who is in charge? The 'operator' who actually controls the domestic assets must be responsible; they must first file with the CSRC and clarify their assets and issuance plans.
2. What can be done? The rules are strict! They must pass several checks including foreign exchange, cybersecurity, and data export. If national interests are harmed or there are asset disputes? Directly on the 'negative list', no exceptions.
3. What is the focus? Besides preventing financial risks, national security and data security are absolute red lines. Don't think about skirting the rules.
In short, this is about 'opening the front door and blocking the side door'. Previously, eight departments had just labeled 'real asset tokenization' as illegal finance, and now it is essentially providing a path for compliance. But the condition is: fully adhere to my rules.
This is both good news and a tight restriction for the industry. For legitimate players with quality assets and who can comply, it provides an additional channel for transparent financing. But for those who want to play ambiguously and exploit loopholes, it basically announces the end of the line. In the future, it's not about who writes the most impressive code, but who can comply rigorously and obtain all necessary licenses.
What do you think? Is this a significant step for DeFi to embrace traditional finance, or is it dancing with shackles on? Feel free to share your thoughts in the comments!
