The Hainan Provincial Financial Regulatory Bureau warns: Be wary of illegal financial activities using names such as "Hainan Digital Exchange".

On March 24, PANews reported that the Hainan Provincial Local Financial Supervision and Administration Bureau issued a risk warning on March 18, directly identifying illegal financial activities in the market operating under the names of "Hainan International Data Asset Exchange," "Hainan Data Exchange," and "Hainan Maritime Exchange." These entities are illegally conducting RWA (Real World Asset) and RDA (Real Data Asset) trading businesses. This action exposes the pretense of compliance by some illegal entities and reiterates the regulatory red line for RWA tokenization activities within China. The core of this risk warning from the Hainan Provincial Local Financial Regulatory Bureau is the complete denial of the legal status of the "Hainan International Data Asset Exchange." The market is explicitly informed that no such institution has ever been approved for establishment within Hainan Province. Simultaneously, regulatory authorities have clearly defined the compliance thresholds for establishing trading venues: the establishment of any trading venue within Hainan Province requires approval from the provincial government. Without approval from the relevant authorities, market entities are prohibited not only from using exclusive terms such as "exchange" or "trading center" in their registered names but also from engaging in any trading venue-related business activities.