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China Declares Real-World Asset Tokenization an Illegal Financial Activity on 6 January 2026
On 6 January 2026, leading Chinese financial industry associations issued a joint notice classifying real-world asset tokenization as illegal financial activity rather than a regulated innovation. The document states that no RWA projects, platforms, or services have regulatory approval in mainland China, and that token-based fundraising, trading, and yield distribution fall under existing bans on unauthorized securities and financing.