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China formalizes sweeping ban on crypto trading and RWA tokenization – TON BOT

China formalizes sweeping ban on crypto trading and RWA tokenization

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China has issued a notice declaring all crypto and real-world asset tokenization activities illegal financial activities. This includes banning virtual currency business activities and RWA tokenization without explicit approval. The enforcement also extends to mining and offshore routes, with severe restrictions on financial institutions and internet platforms. The market has reacted with a decline in prices for major cryptocurrencies. China’s new stance aims to maintain economic and financial order.

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