Utility RWA tokens are under increased regulatory scrutiny as global authorities, including the SEC, EU, Switzerland, and Hong Kong, apply consistent frameworks to determine their status as investment contracts. Legal analysis by attorney Shao Jiadian indicates that projects like DeFiMoney Market and Unicoin, which offer yield or pooled assets, are likely to be classified as securities. These developments suggest that RWA projects must either comply with securities laws or restructure to avoid enforcement actions. Additionally, utility token projects are advised to consider price analysis when assessing compliance risks, as regulators tighten their oversight on the sector.