The China Securities Regulatory Commission issued the "Regulatory Guidelines on the Offshore Issuance of Asset-Backed Securities Tokens for Domestic Assets."
The China Securities Regulatory Commission (CSRC) has issued the "Regulatory Guidelines on the Offshore Issuance of Asset-Backed Securities Tokens for Domestic Assets." The guidelines refer to the offshore issuance of asset-backed securities tokens for domestic assets as activities that issue tokenized equity certificates abroad, supported by cash flows generated from domestic assets or related asset rights, utilizing cryptographic technology and distributed ledger or similar technologies. The offshore issuance of asset-backed securities tokens for domestic assets must strictly comply with laws, administrative regulations, and relevant policy provisions regarding cross-border investment, foreign exchange management, network and data security, and must fulfill the approval, filing, or security review procedures required by the aforementioned regulatory authorities, without harming national interests and public welfare.It is mentioned that the China Securities Regulatory Commission will conduct strict regulation of the offshore issuance of asset-backed securities tokens for domestic assets in accordance with the law and regulations. Before carrying out related business, the domestic entity that actually controls the underlying assets must file with the CSRC, submitting the filing report, complete set of offshore issuance materials, and other relevant documents as required, fully explaining the information of the domestic filing entity, underlying asset information, token issuance plan, and other circumstances. The domestic filing entity and its controlling shareholders, actual controllers, directors, supervisors, senior management personnel, as well as relevant intermediary institutions must ensure that the filing materials provided are true, accurate, and complete, and must not contain false records, misleading statements, or significant omissions.
