RealAssetChain
  • RealAsset Chain (RAC) Whitepaper
  • Preface
  • I. Project Overview and Strategic Vision
    • 1.1 Strategic Positioning and Core Vision of RealAsset Chain (RAC)
    • 1.2 Industry Innovation Through the Integration of Blockchain and Real World Assets (RWA)
    • 1.3 RAC's Differentiation Strategy and Core Value Proposition
  • II. Market Analysis
    • 2.1 Global Macroeconomic Environment and RWA Allocation Trends
    • 2.2 Market Segmentation and Growth Potential in the RWA Sector
    • 2.3 Challenges and Opportunities in the Digital Transformation of Traditional Financial Assets
    • 2.4 Blockchain as an Innovation Driver for the RWA Market
    • 2.5 Analysis of Industry Leaders and Competitive Landscape Assessment
    • 2.6 Regulatory Landscape and Policy Trend Analysis
  • III. Technological Innovation Architecture
    • 3.1 Core Blockchain Technology Selection and Optimization Strategy for RAC
    • 3.2 On-chain Issuance, Trading, and Settlement Mechanism for RWA Assets
    • 3.3 Cross-chain and Interoperability Solutions
    • 3.4 Data Privacy Protection and Security Framework
    • 3.5 Oracles and the Reliability of Off-chain Data
    • 3.6 Scalability and Network Security Optimization Strategy
  • IV. RAC Business Model
    • 4.1 Core Business Logic and Asset Selection Criteria of RAC
    • 4.2 Diversified RWA Asset Categories and Management Models
    • 4.3 Coordination Mechanism Between On-chain and Off-chain Assets
  • V. Tokenomics Design
    • 5.1 RAC Token Economy and Value Circulation Model
    • 5.2 Total Token Supply, Deflationary Mechanisms, and Incentive Strategies
    • 5.3 Staking and Liquidity Mining Programs
    • 5.4 Governance Token Design and Community Incentive Plan
  • VI. Governance Structure and Risk Management
    • 6.1 Decentralized Autonomous Organization (DAO) and Decision-making Framework
    • 6.2 Risk Identification, Early Warning, and Control System
    • 6.3 Compliance Audits and Dynamic Regulatory Mechanisms
  • VII. Development Roadmap and Phase Planning
  • VIII. Team Background and Advisory Board
  • IX. Risk Disclosure and Legal Statement
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  1. II. Market Analysis

2.6 Regulatory Landscape and Policy Trend Analysis

As the tokenization of Real World Assets (RWA) accelerates globally, the regulatory environment and evolving policy trends have become pivotal factors influencing its future trajectory. Governments and regulatory bodies around the world are gradually developing frameworks and policy tools to better understand and accommodate this emerging asset class—aiming to strike a balance between fostering financial innovation and ensuring investor protection and financial system stability.

1. Global Regulatory Overview

The global regulatory attitude toward RWA tokenization is becoming increasingly proactive and diversified. Countries and regions such as the United States, European Union, Singapore, the UAE, and Hong Kong have issued or are drafting more inclusive and clear regulatory guidelines.

United States: Prudential regulation under securities law The U.S. Securities and Exchange Commission (SEC) classifies most tokenized assets as securities, applying the Securities Act of 1933 and the Howey Test. This regulatory approach emphasizes disclosure and investor protection, meaning most RWA tokenization projects in the U.S. must either obtain exemptions (e.g., Reg D, Reg A+) or undergo full registration. As a result, RWA project development in the U.S. has been relatively slow, with many developers opting to register in more crypto-friendly jurisdictions such as Singapore or the Cayman Islands. The Commodity Futures Trading Commission (CFTC) also exerts oversight over commodity-related tokens (e.g., gold, oil), creating a multi-agency regulatory structure.

European Union: Comprehensive MiCA regulation The EU’s Markets in Crypto-Assets (MiCA) framework, enacted in 2023, is regarded as one of the most comprehensive regulatory systems for digital assets globally. MiCA provides clear guidelines for Asset-Referenced Tokens (ARTs) and E-Money Tokens (EMTs), including issuance, capital reserves, stabilization mechanisms, and compliance obligations. MiCA mandates RWA issuers to register within the EU, establish legal entities, and obtain licenses. It also includes provisions for disclosure and consumer protection. This legal clarity supports sustainable RWA development and positions Europe as a key hub for asset tokenization.

Singapore: Innovation-friendly regulatory sandbox The Monetary Authority of Singapore (MAS) is seen as a global leader in regulatory innovation. Its Project Guardian, in collaboration with institutions like JPMorgan and DBS, explores real-world use cases of tokenized assets in cross-border clearing, bond issuance, and mortgage financing. MAS adopts a hybrid approach combining registration regimes with regulatory sandboxes, offering RWA projects a controlled and testable compliance environment. As a result, Singapore has become home to many leading RWA platforms such as Centrifuge and Maple Finance.

UAE and Hong Kong: Incentive-driven regulatory regimes Both the Dubai International Financial Centre (DIFC) and Abu Dhabi Global Market (ADGM) have established dedicated virtual asset regulatory bodies and offer pilot licenses for RWA projects—attracting crypto-native and traditional financial institutions. In 2023, Hong Kong’s Securities and Futures Commission (SFC) launched a virtual asset exchange licensing regime and expressed support for asset securitization and its circulation on digital platforms, advancing the digital feasibility of institutional-grade assets.

2. Regulatory Trends

From unclear to tiered, structured supervision While regulators initially took a hands-off or ambiguous approach to crypto assets, the rise of RWA scale, user growth, and DeFi-related risks has triggered a shift toward proactive, structured regulation. Categorization by token function—security, commodity, payment, etc.—is becoming the prevailing strategy.

Rise of on-chain compliance infrastructure The evolution of RWA drives the need for on-chain compliance tools such as modular KYC/AML frameworks, permissioned DeFi protocols, and auditable smart contract libraries. Many projects are adopting on-chain identity verification, whitelisting mechanisms, and compliance access controls to integrate with traditional finance regulations.

Regulatory sandboxes and compliant DAOs as bridge mechanisms Regulatory sandboxes allow testing of technical feasibility and business models in controlled environments. The concept of Regulated DAOs is emerging as a method to embed regulatory logic into decentralized governance, aligning innovation with regulatory accountability.

Converging standards, but differing speeds of implementation While regulatory approaches vary by country, a global consensus is forming around key principles—clarifying asset ownership, enhancing disclosures, standardizing custodianship, and protecting consumer rights. International bodies such as FATF, BIS, and IOSCO are likely to advance cross-border cooperation and mutual recognition of tokenized RWA frameworks.

3. RAC Platform's Regulatory Strategy

RealAsset Chain (RAC) acknowledges the strategic importance of adapting to evolving global regulations. To that end, RAC has proactively implemented the following measures:

  • Established a regulated entity in Singapore, with preliminary operational authorization

  • Partnered with legal counsel to develop a compliant token issuance framework for RWAs

  • Built technical modules supporting KYC/KYB checks, blacklist screening, and asset whitelist controls

  • Embedded regulatory access nodes in the DAO governance model to support “regulation-as-a-service” architecture

  • Actively participates in global standard-setting discussions, contributing to policy formulation and technical interface standards

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