China RWA Business Hong Kong Halt Ordered by Securities Regulator

China RWA business Hong Kong activity has been paused after the China Securities Regulatory Commission (CSRC) asked some local brokerages to halt their real-world asset tokenisation operations, according to two sources cited by Reuters. The informal guidance follows a surge of Chinese firms launching offshore RWA products, including tokenised bonds and digital yield offerings. Regulators are pushing for stricter risk controls to ensure claims are backed by legitimate businesses, the sources said. The suspension comes as Hong Kong moves forward with its stablecoin licensing regime and reviews broader tokenisation rules, even as mainland China keeps its restrictive stance on cryptocurrencies. The global real-world asset market is currently valued at about USD29bn.