[Japan's Financial Services Agency Releases 609-Page Report on Overseas Crypto Regulatory Research, Covering RWA Regulatory Systems in the US, China, Europe, and Hong Kong] Odaily reports that Japan's Financial Services Agency (FSA) has released a commissioned research report on overseas financial regulatory systems. The 609-page report, authored by the Japanese law firm Atsumi Sakai, covers eight countries and regions, including the United States, the United Kingdom, the European Union, China, and Hong Kong, aiming to provide reference for Japan's financial system planning and legislation. The report focuses on the regulatory systems for cryptocurrency exchanges, stablecoins, and tokenized real-world assets (RWAs) in various regions, including the US GENIUS Act, the EU MiCA Regulation, the UK stablecoin regulatory scheme, and China's virtual currency and RWA regulatory provisions to be released in February 2026. The report points out that under current Chinese regulations, the issuance, trading, and related services of tokenized RWAs are generally prohibited, except for businesses that have obtained approval from the relevant authorities and rely on specific financial infrastructure. Furthermore, the report also covers Hong Kong's expansion of the scope of tokenized securities trading and related market regulatory arrangements. (CoinPost)