Hainan Local Financial Regulatory Bureau: Beware of "Fake Exchange" Chaos, Reiterates Domestic Prohibition of RWA Tokenization Business

Deep Tide TechFlow News, March 24 — According to Hainan Daily, the Hainan Provincial Local Financial Supervision Bureau 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), RDA (Real Data Assets), and other assets. Market participants are conducting unauthorized activities under the guise of trading venues without approval, which may involve illegal financial activities and threaten public property safety.

In response, the Hainan Provincial Local Financial Supervision Bureau issues the following risk warning:

1. Currently, the establishment of “Hainan International Data Asset Exchange” has not been approved within our province. To set up a trading venue, approval must be obtained from the provincial government (the list of approved trading venues is attached). Without approval from the authorized department, market operators are not allowed to use terms like “Exchange” or “Trading Center” in their registered names or engage in related trading venue activities.

2. The People’s Bank of China, China Securities Regulatory Commission, and six other departments jointly issued the “Notice on Further Preventing and Handling Risks Related to Virtual Currencies,” 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 IT services, may involve illegal activities such as unauthorized issuance of tokens or securities, illegal securities and futures operations, and illegal fundraising, which should be prohibited.

3. Investors are advised to establish correct investment concepts, enhance risk awareness, choose legitimate investment channels, and resolutely oppose illegal financial activities to protect their lawful rights and interests. If you discover relevant clues, please actively report to local regulatory authorities. If criminal activity is suspected, report promptly to public security authorities.