[Hainan Local Financial Regulatory Bureau Warns Against 'Pseudo Digital Exchanges' and Reaffirms Domestic Ban on RWA Tokenization] On March 24, the Hainan Provincial Local Financial Regulatory Bureau issued a risk warning, cautioning against certain entities conducting RWA (Real World Asset) tokenization activities under names such as 'Hainan International Data Asset Exchange' and 'Hainan Digital Exchange,' which are suspected of illegal financial activities. Hainan Province explicitly stated that no such trading venues have been approved within its jurisdiction, and the use of terms like 'exchange' for related activities without authorization is prohibited. Furthermore, the People's Bank of China and seven other departments have clearly banned RWA tokenization activities within the country. Regulatory authorities urge investors to choose legal channels, resist illegal financial activities, and promptly report relevant leads.