According to Hainan’s local financial regulator, no "Hainan International Data Asset Exchange" has been approved in the province, and domestic RWA tokenization may constitute illegal financial activity under existing rules.
Hainan’s local financial regulator issued a risk alert on March 19 against illegal RWA and RDA trading conducted under names including "Hainan International Data Asset Exchange." Authorities said no such exchange has been approved in Hainan and warned that domestic RWA tokenization may constitute illegal financial activity under current rules. The notice reinforces regulatory scrutiny of unapproved trading venues and tokenization-related activity in the province.