Major Chinese financial associations have reclassified real-world asset tokenisation (RWA) as a risky business model, a move seen as signalling tighter digital asset regulation, Cointelegraph reported citing Wu Blockchain. The associations said RWA is no longer treated as a new technology and is grouped with stablecoins, air coins and mining as illegal activity. They said RWA fundraising and trading via tokens carry risks including fraud, operational failure and speculative hype, and said no RWA activity has been approved by Chinese financial authorities.