Recently, seven major domestic financial associations—the Internet Finance Association, Banking Association, Securities Association, Fund Association, Futures Association, Listed Companies Association, and Payment & Clearing Association—joined forces to issue a risk warning document.

The main message is to remind everyone to be cautious of people using the banner of virtual currencies and RWA (Real World Asset tokenization) to cause trouble. Lately, there have indeed been quite a few taking advantage of these concepts to hype up worthless projects and scam investors. The regulators have clearly noticed this, which is why they have come forward to issue this risk warning.

Anyone involved in crypto knows that the domestic stance has always been pretty clear. Now that even new concepts like RWA are being specifically mentioned, it shows that regulators are keeping a close eye on industry trends. When participating in projects, everyone should stay alert and not be fooled by buzzwords on the surface.