TechFlow News: On February 6, the China Securities Regulatory Commission (CSRC) issued the “Regulatory Guidelines on the Overseas Issuance of Asset-Backed Security Tokens Backed by Domestic Assets.” Under these guidelines, “the overseas issuance of asset-backed security tokens backed by domestic assets” refers to activities whereby tokenized rights certificates are issued overseas, using cash flows generated from domestic assets or related asset rights as repayment support, and leveraging cryptographic and distributed ledger—or similar—technologies. Such overseas issuance of asset-backed security tokens backed by domestic assets must strictly comply with laws, administrative regulations, and relevant policy provisions concerning cross-border investment, foreign exchange management, and network and data security; must fulfill approval, filing, or security review procedures required by the aforementioned regulatory authorities; and must not harm national interests or the public interest. (Jin10)
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