China Halts RWA Biz in HK – Is This the End of Digital Dreams? 🚫💸

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Under the shadow of a new decree, China’s security regulators, those self-proclaimed guardians of the digital realm, have commanded local brokerages to halt their real-world asset tokenization ventures in Hong Kong-a city once hailed as a beacon of financial freedom. 🌐🚫

Reuters reports that at least two of Hong Kong’s financial titans have been gently (or not so gently) nudged by the China Securities Regulatory Commission to cease their offshore RWA endeavors. A curious move, given Hong Kong’s ambitious bid to become Southeast Asia’s digital oasis. 🏙️🌀

This follows Hong Kong’s June declaration, where its Financial Services and Treasury Bureau, along with the Hong Kong Monetary Authority, embarked on a “legal review” of RWA tokenization-though one might wonder if “legal review” is merely code for “let’s stifle innovation until it withers.” 🧭⚖️

Meanwhile, China’s crypto crackdowns have grown bolder. From banning trading and mining in 2021 to recently ordering brokers to stop promoting stablecoins, the state’s grip tightens like a noose. “Stability,” they say. “Financial system stability,” they whisper, while the people wonder if they’re still allowed to dream. 🧠🔐

At the recent Hong Kong Bitcoin Summit, Eric Trump, son of the former U.S. president, lauded China as “a hell of a power” in the digital sphere. One can only imagine the diplomatic dinner conversations: “Let’s discuss Bitcoin… and also, please don’t tokenize anything.” 🇨🇳🇺🇸

Yet, despite such flattery and a burgeoning investor base, China’s restrictions on RWA initiatives reveal a nation wary of its own progress-afraid of the winds of change blowing too strongly. 🌬️📉

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2025-09-22 17:51