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People's Bank of China, China Securities Regulatory Commission: This notice emphasizes that conducting RWA securitization without a license constitutes illegal activity and continues the policy stance on virtual currencies in recent years
BlockBeats News, February 6th, leaders of the People's Bank of China and the China Securities Regulatory Commission stated that the background of this "Notice on Further Preventing and Resolving the Risks of Virtual Currency and Related Activities" (hereinafter referred to as the "Notice") is: Based on summarizing previous work experience and combining the new risk situation, the original document was revised to form the "Notice."
In addition, this notice continues the policy stance of recent years, restating that virtual currency does not have the same legal status as fiat currency, conducting virtual currency-related business activities within the territory is considered illegal financial activities, and overseas entities and individuals are not allowed to illegally provide virtual currency-related services to domestic entities in any form.
In response to the rapid development of real-world asset tokenization in recent years, the "Notice" emphasizes that engaging in real-world asset tokenization activities within the territory, as well as providing related intermediaries, information technology services, etc., suspected of illegally issuing tokenized securities, unauthorized public offering of securities, illegal operation of securities and futures business, illegal fundraising, and other illegal financial activities, should be prohibited; except for related business activities conducted with the approval of the competent business supervisory department in accordance with laws and regulations and relying on specific financial infrastructures. Overseas entities and individuals are not allowed to illegally provide real-world asset tokenization-related services to domestic entities in any form.
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