China just told Hong Kong brokers to halt $29 billion tokenization boom - here's why
Key Points
- China has warned Hong Kong brokerages to slow down on real-w...
When Guotai Junan International's stock price jumped over 400% from regulatory approval for crypto trading services, you might have thought the digital asset party in Hong Kong was just getting started. Think again. China just sent what financial diplomats call "informal guidance" - which is regulatory speak for "cut it out right now" - telling Hong Kong brokerages to pump the brakes on their real-world asset tokenization dreams.
The China Securities Regulatory Commission is apparently concerned that turning traditional assets like stocks, bonds, and real estate into blockchain-friendly digit...
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