Caixin: Equity-based and asset-backed securities-based RWAs are regulated by the China Securities Regulatory Commission (CSRC), while foreign debt-based RWAs are regulated by the National Development

PANews reported on February 7th, citing Caixin, that the issuance of Real-World Asset Tokens (RWAs) overseas by Chinese assets will no longer be a gray area. The China Securities Regulatory Commission (CSRC) has issued the "Regulatory Guidelines on the Issuance of Asset-Backed Securities Tokens Overseas by Domestic Assets," which for the first time explicitly defines RWAs and provides a clear regulatory framework. The regulatory authorities believe that equity-based RWAs, asset-backed securities-based RWAs, and foreign debt-based RWAs should be regulated according to the principle of "same business, same risk, same rules," referring to the same legal and regulatory oversight as their corresponding traditional financing businesses. Therefore, equity-based RWAs and asset-backed securities-based RWAs are regulated by the CSRC; foreign debt-based RWAs are regulated by the National Development and Reform Commission (NDRC). Similar to traditional overseas financing businesses, overseas RWAs also involve the repatriation of funds raised overseas, which is regulated by the State Administration of Foreign Exchange (SAFE). Other forms of RWAs are regulated by the CSRC in conjunction with relevant departments according to their respective responsibilities.