Caixin: Document No. 42 Emphasizes Strict Regulation of Overseas RWA, CICC Hong Kong Has Already Contacted Public Chains and Exchanges

Odaily News On the weekend when the "Notice on Further Preventing and Disposing of Risks Related to Virtual Assets and Other Matters" (Document No. 42) was issued, the relevant team at CICC Hong Kong had already contacted multiple public chains and exchanges to explore potential business cooperation. Another public chain executive stated they hope to explore related cooperation opportunities with intermediaries such as investment banks. Institutions like Ant Group and JD.com have also expressed attention to the policy changes.

The report stated that Hong Kong is one of the overseas issuance locations for RWA. Sources familiar with regulatory matters indicated that RWAs with Hong Kong, China assets as the underlying assets are not within the regulatory scope of Document No. 42. However, if they involve domestic securities or funds as underlying assets and are issued as RWA overseas, they fall under the purview of relevant departments of the China Securities Regulatory Commission. The related statements emphasize that strict regulation will be implemented for RWAs involving the outflow of domestic assets, and this should not be interpreted as a signal of encouragement or regulatory relaxation. (Caixin)