Hainan Local Financial Regulatory Bureau: Be Vigilant Against "Fake Digital Asset Exchanges" Chaos, Reiterates Domestic Prohibition of RWA Tokenization Business

ZkProver · 2026-03-24T07:07:17+00:00

The Hainan Provincial Local Financial Management Bureau issued a risk warning, alerting market participants against conducting unapproved financial activities under the guise of names such as "Hainan International Data Asset Exchange," which involves illegal financial activities. The bureau recommends that investors remain vigilant.

ZkProver

2026-03-24 07:07:17

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ChainCatcher News reports that the Hainan Provincial Local Financial Supervision Bureau has issued a risk warning regarding trading venues. Recently, the bureau learned through relevant channels that certain entities are promoting under names such as “Hainan International Data Asset Exchange,” “Hainan Data Exchange,” and “Hainan HaiJiao Exchange,” claiming to legally conduct businesses involving RWA (Real World Assets) and RDA (Real Data Assets).

Market participants operating without approval, using the name of trading venues to conduct illegal activities, are suspected of engaging in illegal financial activities and endangering public property safety. In response, the Hainan Provincial Local Financial Supervision Bureau issues the following risk warning:

Currently, the “Hainan International Data Asset Exchange” has not been approved to be established within our province. The establishment of trading venues in our province requires approval from the provincial government (see the attached list of approved trading venues). Without approval from the authorized department, market operators are not allowed to use terms like “Exchange” or “Trading Center” in their registered names or conduct related trading venue activities.
The People’s Bank of China, China Securities Regulatory Commission, and six other departments jointly issued the “Notice on Further Preventing and Addressing Risks Related to Virtual Currencies and Other Areas,” which clarifies that the regulation of tokenization of real-world assets (RWA) adopts the principle of “strict prohibition domestically and strict regulation abroad.” It emphasizes that conducting RWA tokenization activities within the country, as well as providing related intermediary and information technology services, may involve illegal activities such as unauthorized issuance of tokens or securities, illegal securities and futures business, and illegal fundraising, which should be prohibited.
Investors are advised to establish correct investment concepts.

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