China’s financial associations reclassify RWAs as ‘risky,‘ report says
Wu Blockchain reported the policy change listing Real-World Asset tokenization alongside stablecoins, ”air coins” and crypto mining as illegal in China.
Several of the largest financial industry associations in China have reportedly signaled that the country’s regulators could crack down on Real-World Asset (RWA) tokenization.
According to a notice shared by Wu Blockchain on Monday, the Asset Management Association of China, National Internet Finance Association of China, the China Banking Association, the Securities Association of China, the China Futures Association, the China Association for Public Companies, and the China Payment Clearing Association will no longer consider RWAs as “new technology” subject to regulatory clarification but rather as a “risky” business model.
The association listed RWAs, stablecoins, ”air coins,” a term for tokens lacking real value, and mining as illegal activities related to cryptocurrencies.