China tightens crypto crackdown with onshore RWA tokenisation ban
Chinese authorities issued a notice on Friday that tightened regulations on virtual currency trading, expanding Beijing’s crackdown on cryptocurrencies to the tokenisation of real world assets (RWA).
Onshore RWA tokenisation activities and related intermediary or technology services for securities issuance, financial operations or fundraising were banned, according to the notice, which added that exceptions may apply in specific cases if approved by authorities.
“Overseas entities and individuals may not, in any form, illegally provide RWA-tokenisation-related services to domestic entities,” said the notice, which was issued by eight government agencies led by the People’s Bank of China.
