：Cryptocurrency ban continues, RWA and stablecoin regulations upgraded 🇨🇳🛑
New signals from Chinese regulators: Beijing has no intention of easing its stance. Authorities have recently clarified the expansion of restrictions on the tokenization of real-world assets (RWA) and implemented strict controls on offshore RMB stablecoins.
Key points of the new regulations:
🔹 Trading ban unchanged: All cryptocurrency transactions and related services within mainland China remain illegal, with no signs of any easing.
🔹 RWA regulatory upgrade: Regulatory agencies have expanded restrictions on the tokenization of real-world assets (RWA), making it nearly impossible for private institutions to issue such assets without direct oversight.
🔹 Offshore RMB stablecoins: Issuing stablecoins pegged to the RMB (such as CNHT) in offshore markets is strictly prohibited without regulatory approval.
China is continuing to strengthen the "firewall" between its financial system and the global crypto market, fully focusing on controllable digital RMB (e-CNY).
For the market, this is a clear signal: liquidity from China will be limited to legal and compliant channels such as Hong Kong in the short term, and Hong Kong's position as a "crypto testing ground" is becoming increasingly important.
What impact do you think this will have on the long-term trend of RWA?📉📈
