Core Viewpoint - The China Securities Regulatory Commission (CSRC) has issued regulatory guidelines to manage the issuance of tokenized securities based on domestic assets abroad, aiming to prevent speculative risks associated with virtual currencies and maintain financial order and public asset safety [1] Group 1: Regulatory Scope - The new regulations specify that the scope of supervision includes tokenized equity certificates issued abroad, backed by cash flows generated from domestic assets [1] - Businesses engaging in such activities must comply with cross-border investment, foreign exchange management, and cybersecurity regulations, and must complete necessary approvals, filings, and security reviews [1] Group 2: Prohibited Circumstances - Six specific scenarios are explicitly prohibited, including financing entities or assets that are banned by the state, those that may endanger national security, and entities involved in serious criminal activities within the last three years [2] - The core of the regulation is a filing management system, requiring entities controlling relevant assets to submit complete and truthful filing reports to the CSRC for approval [2] Group 3: Compliance and Cooperation - Upon approval, relevant information will be publicly disclosed, and non-compliant entities will not be allowed to file [2] - The CSRC will enhance cooperation with overseas regulatory bodies to share information and prevent cross-border risk transmission, while also taking legal action against illegal activities [2]