BlockBeats News, February 21st. Caixin’s article “Strict Regulation of Overseas RWAs” pointed out that on February 6th, the People’s Bank of China and eight other departments issued a notice on further preventing and addressing risks related to virtual currencies (hereinafter referred to as Document 42), with the overall theme of “strict overseas regulation.” According to sources familiar with Chinese regulators, RWAs based on assets in Hong Kong are not within the regulatory scope of Document 42 and are not the responsibility of Chinese domestic regulators. If it involves domestic securities or funds as underlying assets and RWA issuance is conducted overseas, it will be the responsibility of relevant departments of the China Securities Regulatory Commission. The statement emphasizes that strict regulation will be implemented for domestic assets going overseas for RWAs and should not be interpreted as an encouragement or relaxation of regulatory signals.
Furthermore, according to Caixin’s sources, on the weekend of the release of Document 42, a team from CICC Hong Kong had already been in contact with major public chains and exchanges to discuss business cooperation opportunities. Some public chain leaders also expressed their hope to cooperate with relevant investment banks and other intermediary institutions to explore business opportunities. Ant Group and JD.com have both expressed a high level of concern regarding the policy changes.
