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

Odaily According to reports, 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, relevant teams from CICC Hong Kong had already contacted multiple public chains and exchanges to explore potential business cooperation. Another head of a public chain stated they hope to explore relevant 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 states that Hong Kong is one of the offshore issuance locations for RWA. Individuals 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. If they involve domestic securities or funds as underlying assets and conduct RWA issuance offshore, they fall under the responsibility 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 encouraging or relaxing supervision. (Caixin)