CSRC Directs Brokers to Pause Real-World Asset Tokenisation Activity in Hong Kong

China’s securities regulator has informally instructed brokerages to halt their real-world asset tokenisation activities in Hong Kong, according to a Reuters report. The move signals Beijing’s cautious stance on risk management, even as Hong Kong accelerates its digital-asset ambitions with new licensing frameworks and regulatory roadmaps. Analysts suggest the pause is a temporary cooling-off period rather than a reversal of demand, with several firms already active in launching tokenised bonds and yield-bearing products.