What China’s informal RWA pause request to Hong Kong brokerages reveals about KYC resistance and cross-border pressures

https://www.mediafire.com/file/4fjwgn27prkrq69/pdf-86220-27805.pdf/file

Which key questions does this informal pause raise, and why do they matter now? When an onshore regulator asks brokerages in an offshore financial center to pause distribution of real-world asset (RWA) products, it raises practical, legal,