🚨 BREAKING: 🇨🇳 CHINA HAS ISSUED A WARNING AGAINST RWA (REAL-WORLD ASSET) TOKENIZATION.
Seven major industry bodies have jointly stated that RWA tokenization is risky and has not been approved by the Chinese government.
China's central bank, the PBoC (People's Bank of China), also stated that stablecoins do not meet China's KYC (Know Your Customer) and AML (Anti-Money Laundering) rules.
DIRECT IMPLICATION: China is currently taking a very strict stand on tokenization and stablecoins, especially when it comes to regulatory control and compliance.
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🚨 BREAKING: 🇨🇳 CHINA HAS ISSUED A WARNING AGAINST RWA (REAL-WORLD ASSET) TOKENIZATION.
Seven major industry bodies have jointly stated that RWA tokenization is risky and has not been approved by the Chinese government.
China's central bank, the PBoC (People's Bank of China), also stated that stablecoins do not meet China's KYC (Know Your Customer) and AML (Anti-Money Laundering) rules.
DIRECT IMPLICATION:
China is currently taking a very strict stand on tokenization and stablecoins, especially when it comes to regulatory control and compliance.