Mainland Enterprises' RWA Business in Hong Kong Placed on "Ice," Consultation Requests Plummet by Over 90%

BlockBeats News, December 11th. According to China’s Caixin report, recently, seven financial industry associations jointly issued a risk reminder, explicitly prohibiting domestic participation in virtual currency and Real World Asset (RWA) token issuance trading activities.

After the regulatory tone was set, mainland enterprises’ RWA business to Hong Kong was cold overall. Industry insiders revealed that the consultation volume plummeted by over 90%, and many projects that were already in discussions were asked to postpone. Related concept stocks followed suit, with Langxin Group, Xinjiang Jin, and other stocks experiencing significant corrections from their highs. Some companies have shifted their focus to exploring RDA (Real Data Assets) as an alternative direction.