The Hainan Provincial Financial Supervision Administration has issued a warning about entities falsely claiming to operate as the "Hainan International Data Asset Exchange" and "Hainan Data Exchange." These entities purport to legally conduct Real World Asset (RWA) and Real Data Asset (RDA) businesses without official approval. The administration emphasized that unauthorized use of "exchange" in names is considered illegal financial activity. Authorities reiterated China's strict stance on RWA tokenization, which is prohibited domestically and tightly regulated abroad. Any domestic activities or services related to RWA tokenization are deemed illegal token issuance and fundraising, subject to legal action and shutdown.