Crypto Law Profile
CSRC filing and oversight guidance for offshore asset-backed securities tokens supported by Chinese domestic assets or related asset-right cash flows.
The CSRC Offshore ABS Token Guidelines are China’s February 2026 agency guidance for offshore issuance of asset-backed securities tokens supported by domestic assets or related asset-right cash flows. The official instrument is 关于境内资产境外发行资产支持证券代币的监管指引, issued as CSRC Announcement [2026] No. 1 and in force from Feb. 6, 2026.
The profile covers a narrow tokenized-securities structure rather than China’s broader virtual-currency policy. The guidelines sit alongside Circular No. 42, issued the same day by the People’s Bank of China and seven other authorities, which defines real-world asset tokenization and keeps unauthorized onshore RWA tokenization and virtual-currency activity within China under a restrictive policy stance.
The guidelines define the covered activity as offshore issuance of tokenized equity certificates where repayment support comes from cash flows generated by domestic assets or related asset rights, using cryptographic technology and distributed ledger or similar technology. This places the instrument within a securities-style filing and risk-control framework for a specific form of RWA tokenization linked to Chinese assets.
The scope is asset- and cash-flow focused. It does not create a general domestic market for RWA tokens, crypto assets, or token trading. It applies when domestic assets or related rights support an offshore tokenized security, and when a domestic entity actually controls the underlying assets.
CSRC Filing Guide No. 1 gives practical content and format requirements for filings. The guide asks for information on the issuance plan, token definition and nature, issuance quantity and method, trading mechanism, the relationship between tokens and underlying assets, transaction structure, data-chain architecture, data storage, and data-security measures. It also asks for information on the domestic filing entity, participating institutions, underlying asset ownership, valuation, cash-flow status, internal approvals, and domestic and overseas compliance.
The filing guide states that filing materials and major-event reports should be submitted by email to the CSRC, with domestic contact details and authorization materials. The guide also frames the sample filing report as a minimum content standard and directs applicants to use objective, factual language rather than promotional wording.
The guidelines are a China national-level CSRC instrument with cross-border effect for offshore structures tied to domestic assets. They are most relevant to domestic asset controllers, offshore issuers, financial intermediaries, technology providers, and advisers involved in tokenized ABS-style structures. They also matter for offshore markets evaluating whether a China-linked tokenized security has completed domestic filing steps.
The CSRC published the guidelines on Feb. 6, 2026 and stated that they would take effect from the date of publication. As of June 6, 2026, this profile treats the guidance as in force, with no fixed sunset, consultation deadline, or phase-in date identified in the official text. Editors should monitor CSRC filing disclosures, amendments to the filing guide, and implementation practice for the first accepted or rejected offshore ABS token filings.
Applies to offshore issuance of tokenized equity certificates repaid by cash flows from domestic assets or related asset rights using cryptographic and DLT-like technology.
Issuance must follow cross-border investment, foreign-exchange, network-security, data-security and other applicable approval, filing or security-review procedures.
Prohibits covered business where financing is barred, national security is implicated, major crimes or investigations exist, or assets are disputed, non-transferable or ABS-negative-list assets.
Before covered business, the domestic entity actually controlling underlying assets must file with CSRC and submit reports, offshore issuance materials and transaction details.
The filer, controlling persons, directors, supervisors, senior managers and intermediaries must ensure filing materials are true, accurate and complete.
After filing, the filer must report issuance completion, major risks and major events; CSRC will strengthen cross-border regulatory cooperation and information sharing.
Eight Chinese authorities issued Circular No. 42 on virtual currency and RWA tokenization risks.
CSRC published Announcement [2026] No. 1 and stated the Guidelines take effect from publication.
China Securities Regulatory Commission, People’s Bank of China, State Administration of Foreign Exchange
Asset-backed securities tokens, Real-world assets, Tokenized securities
English title is an editorial translation. This profile covers the CSRC Guidelines and uses Circular No. 42 only as companion context for China’s RWA-tokenization policy.
