Core Viewpoint - The recent notification issued by the People's Bank of China and eight other departments emphasizes that virtual currency and tokenization of real-world assets (RWA) are illegal financial activities, aiming to prevent risks and maintain national security and social stability [1][2][9]. Group 1: Virtual Currency Regulations - Virtual currencies do not have the same legal status as fiat currencies and should not be circulated in the market [1][2]. - The notification prohibits any domestic entity or individual from issuing stablecoins pegged to the Renminbi without approval from relevant authorities [1][9]. - Financial institutions are barred from providing services related to virtual currencies, including account opening, fund transfers, and the issuance of financial products [6][9]. Group 2: RWA Tokenization Regulations - The notification defines RWA tokenization and states that conducting RWA-related activities domestically is considered illegal financial activity [4][5]. - Any intermediary or technical services related to RWA tokenization without approval are also deemed illegal [5][6]. - The notification emphasizes that foreign entities must not provide RWA tokenization services to domestic subjects [5][9]. Group 3: Enforcement and Compliance - The notification outlines strict measures to shut down existing virtual currency mining projects and prohibits the establishment of new ones [1][5]. - It highlights the need for cross-departmental collaboration to monitor and manage risks associated with virtual currencies and RWAs [5][10]. - Violations of the notification will result in penalties, and criminal liability may be pursued for serious offenses [9][10]. Group 4: Public Awareness and Education - The notification calls for increased public education on the risks associated with virtual currencies and RWA tokenization [10]. - It encourages various departments and industry associations to raise awareness through legal interpretations and case studies [10].

Core Viewpoint - The People's Bank of China and several regulatory bodies issued a notification to further prevent and address risks associated with virtual currencies and real-world asset (RWA) tokenization, reiterating that activities related to virtual currencies are illegal financial activities [1][2]. Group 1: Notification Structure and Content - The notification consists of six parts and nineteen articles, focusing on the nature of virtual currencies, RWA, and related business activities, as well as establishing a collaborative working mechanism [2]. - It emphasizes risk monitoring, prevention, and management requirements, including the regulation of intermediary institutions, internet content management, and the registration of business entities [2][3]. - The notification aims to strengthen the regulatory framework for domestic entities and their overseas operations concerning virtual currencies and RWAs [2][3]. Group 2: Key Revisions Compared to Previous Regulations - The notification reaffirms the prohibition of virtual currencies in China, clarifying that they do not hold legal currency status and that related business activities are illegal [3]. - It specifies that stablecoins linked to legal currencies cannot be issued abroad without approval from relevant authorities, emphasizing the importance of currency sovereignty [3]. - The notification outlines a clear definition of RWA and stresses that conducting RWA business domestically or providing related intermediary services is considered illegal financial activity [3]. Group 3: Measures Against Virtual Currency Mining - The notification reiterates the ban on virtual currency mining in China, with the National Development and Reform Commission leading the strict control of mining activities [4]. - Provincial governments are held responsible for the oversight and rectification of mining activities within their jurisdictions, following existing regulations [4]. - It emphasizes the need for inter-departmental collaboration to maintain a high-pressure stance against illegal activities related to virtual currencies and RWAs [4].

Group 1 - The platform "Gold Link" operates as a Ponzi scheme, promising high returns without actual business activities or investments in real projects [2][4] - The scheme relies on new investments to pay returns to earlier investors, creating a cycle of dependency on continuous new funding [2][4] - The platform has recently announced a transition to "RWA" (Real World Assets) to give the illusion of legitimacy, but this is seen as a deceptive tactic [4] Group 2 - The scheme has affected approximately 400,000 members, with total involvement amounting to billions, leading to widespread financial loss [4][7] - Victims are now collecting evidence and initiating legal actions, but the chances of recovering lost funds are minimal [7] - The situation serves as a warning against high-return promises and the importance of due diligence in investment decisions [7][8]

Core Insights - The number of on-chain Real World Asset (RWA) holders has increased nearly tenfold over the past year, approaching 800,000 [1] - Tokenized stocks and commodity assets account for the majority of holders, with approximately 294,000 and 206,000 holders respectively, but together they represent only about 25% of the total market capitalization of RWA [1] - At the current growth rate, the number of RWA holders is expected to surpass 1 million within a few months [1]

⚡️ INSIGHT: RWA holders jumped nearly 10x over the past year, nearing 800,000 and on pace to surpass 1 million soon. https://t.co/Wi5GhKat5i ...

Market Overview - The cryptocurrency market experienced a significant downturn, with the total market capitalization shrinking to approximately $2.82 trillion, reflecting a 5.11% decline over 24 hours, and a trading volume of about $70 billion [1] - Bitcoin fell over 5%, dropping below the $85,000 mark, while other major cryptocurrencies like Ethereum and SOL saw declines exceeding 6% [1] - Over 227,000 traders faced liquidation, with a total liquidation amount of approximately $1.014 billion [1] - The Fear and Greed Index plunged to 16, indicating "extreme fear" among investors, leading to widespread sell-offs [1] Fundamental Analysis - Bitcoin (BTC) faces short-term collapse pressure, with economic risks in the U.S. and over $500 million in liquidations resulting in a market cap loss of about $10 billion [3] - There was a net outflow of $11.37 million from ETFs, indicating a slowdown in institutional demand, although long-term holders are increasing supply, providing some buffer [3] - Ethereum (ETH) shows weak fundamentals, with a rise in active addresses but a slowdown in DeFi and Real World Asset (RWA) adoption; staking withdrawals have cleared, and institutional staking reached $170 million [3] Policy Environment - Uncertainty in the policy landscape has increased, as the Federal Reserve announced on January 28 to maintain interest rates, aligning with expectations [4] - The focus is shifting to the new Fed chair and the 2026 policy outlook, amid geopolitical risks, such as fears of Trump attacking Iran, which are causing market anxiety [4] - There is a risk of a U.S. government shutdown, as federal funding is set to expire on January 30, which could exacerbate market volatility if Congress fails to pass a new budget [4] Technical Analysis - Bitcoin is currently consolidating around $83,000, having touched a low of approximately $81,000 earlier in the day before rebounding [5] - The cryptocurrency is in a downward trend on a weekly basis, with short-term support at the $80,000 level; a drop below this could see it fall to the $76,000 mark, a previous strong support level [5] - For Ethereum, a drop below $2,600 could lead to a decline towards the $2,000 level [5] Operational Strategy - The recommended approach is to focus on defense and observation, waiting for market panic to subside and clearer stabilization signals to emerge [7] - Short-term trading for Bitcoin can be considered within the $81,000 to $86,000 range, while Ethereum can be traded between $2,600 and $2,800, with a strict position control of 10% and proper stop-loss measures [7]

RT Messari (@MessariCrypto)State of @avax Q4Key Update: Avalanche saw a breakout quarter for RWAs, with TVL surging 68.6% QoQ as BlackRock’s BUIDL fund deployed $500M to the network.Growth was further bolstered by FIS’ tokenized loan pools and the launch of the S&P Digital Markets 50 Index via @DinariGlobal and @SPDJIndices.QoQ Metrics 📊• RWA TVL ⬆️ 68.6% to $950M+• Avg. daily transactions ⬆️ 63.0% to 2.1M• Active L1s ⬆️ 10.3% to 75 ...

RT Jack McDonald (@_JackMcDonald_)The December $RLUSD monthly independent attestation is now live! Recent highlights include:1/ RLUSD is officially listed on @binance with XRPL support coming soon 👀2/ @LMAX’s global marketplace has integrated RLUSD as core collateral – accelerating institutional stablecoin adoption and cross-asset mobility across crypto + traditional markets3/ RLUSD was ranked #2 on @decrypt’s fastest-moving stablecoin of 2025 list with a velocity of 71 → market cap is important, but the ab ...

Welcome to FYI, the 4-year innovation podcast. This show offers an intellectual discussion on technologically enabled disruption because investing in innovation starts with understanding it. To learn more, visit ark-invest.com. Ark Invest is a registered investment adviser focused on investing in disruptive innovation. This podcast is forformational purposes only and should not be relied upon as a basis for investment decisions.It does not constitute either explicitly or implicitly any provision of services ...

Core Viewpoint - The SEC's recent statement on tokenized securities establishes a clear regulatory framework, emphasizing that the economic substance of securities takes precedence over their technological format, thereby addressing concerns about regulatory arbitrage in the market [2][12][22]. Timing - The timing of the SEC's statement coincided with a closed-door meeting involving major financial players, who expressed concerns about granting special exemptions for tokenized securities, fearing it could undermine investor protection and lead to market fragmentation [3][4]. Core Framework - The SEC categorizes tokenized securities into two main types: issuer-sponsored and third-party sponsored. Issuer-sponsored tokenized securities involve direct issuance by the company, while third-party sponsored securities can be further divided into custodial and synthetic tokenized securities [5][6][7]. Economic Substance Over Form - The SEC emphasizes that the economic reality of a product is what matters for regulatory purposes, regardless of its technological implementation. This principle aims to prevent attempts to circumvent securities laws through innovative structuring [12][13][22]. Regulatory Philosophy - The SEC's statement reflects a developing regulatory philosophy under Chairman Paul Atkins, aiming to create a clear framework for crypto assets, distinguishing between various types of tokens and their regulatory implications [14][15]. Impact on Industry Participants - For issuers, the path to tokenization is now clearer, requiring compliance with existing securities regulations without special exemptions. For DTC/DTCC participants, approved pilot projects can proceed with recognized legal standing for tokenized securities [18][19]. - Third-party platforms must carefully assess whether their products are custodial or synthetic, as this will determine their compliance with securities regulations [19]. - Retail investors are being protected from potentially misleading products that do not follow proper issuance processes, emphasizing the need for clarity on what they are purchasing [20]. Conclusion - The SEC's statement reinforces a technology-neutral approach while prioritizing economic substance, indicating that attempts to evade regulatory scrutiny through technological means will face increasing challenges. However, compliant pathways for tokenization are becoming clearer, potentially lowering barriers for institutional participation [22].