Japan's Financial Services Agency Releases 609-Page Research Report on Overseas Crypto Regulation, Covering RWA Regulatory Frameworks in China, the US, Europe, and Hong Kong

Odaily reports: Japan's Financial Services Agency (FSA) has published a commissioned research report on overseas financial regulatory systems, totaling 609 pages and authored by the Japanese law firm Atsumi & Sakai. The report covers 8 countries and regions, including the United States, the United Kingdom, the European Union, China, and Hong Kong, and aims to provide reference for Japan's financial system planning and legislation.

The report focuses on regulatory frameworks for crypto asset exchanges, stablecoins, and real-world asset (RWA) tokenization across various jurisdictions, including the US GENIUS Act, the EU's MiCA regulation, the UK's stablecoin regulatory proposal, and China's virtual currency and RWA regulations issued in February 2026. The report notes that under China's current rules, domestic RWA tokenized issuance, trading, and related services are in principle prohibited, except for businesses conducted with the consent of competent authorities and relying on specific financial infrastructure. Additionally, the report covers Hong Kong's expansion of the scope of tokenized securities trading and related market regulatory arrangements. (CoinPost)