China allows RWA to issue tokens? The answer is yes! The document released by 8 ministries yesterday contains two key messages: First, there will be continued strict regulation on domestic mining, virtual currencies, and stablecoins, with the stance remaining consistent as before. Second, RWA gets the green light for the first time—domestic institutions can issue tokens overseas under regulatory filing. Domestic regulators are still very smart. This move is essentially attracting global funds into China, using crypto-friendly Hong Kong as a transit hub.