The wave of Web 3.0 is sweeping the globe, and the compliance process of stablecoins and real-world assets (RWA) has become the two hottest topics in the industry. On July 10, the Shanghai Bar Association's Digital Technology and Artificial Intelligence Committee hosted a training event titled 'Hot Interpretations and Compliance Outlook of Stablecoins and RWA,' jointly organized by Shanghai Mankun Law Firm and Shanghai Zhonglian Law Firm. Mao Jiehao, a member of the Shanghai Bar Association's Digital Technology and Artificial Intelligence Committee and a senior lawyer at Shanghai Mankun Law Firm, attended this training event.

On the eve of the event, attendees checked in orderly, immersing themselves in the atmosphere of professional analysis and exchange focused on the hot topics of stablecoins and future compliance, with every seat filled and a lively atmosphere.

Training Review

  • Sharing Topic 1: In-depth Analysis of Stablecoin Hotspots and Compliance

Dr. Fang Yi, Director of the Shanghai Digital Economy and Artificial Intelligence Committee of Zhonglian, and Deputy Director of the National Intellectual Property and Data Protection Committee of Zhonglian, has a solid background in law and financial technology, with 7 years of experience in commercial trials in courts. He specializes in legal issues related to blockchain smart contracts, providing services such as data compliance to numerous enterprises, and offers unique insights on stablecoins.

At the beginning of the sharing, Dr. Fang explained the basic definitions of blockchain digital assets, helping the audience better understand the concept of stablecoins. He cited hot topics related to stablecoins, such as Web 3.0's distributed ledger technology, smart contracts, and digital tokens that constitute its ecological framework, concluding that stablecoins, as homogeneous tokens, serve as a bridge connecting fiat currency and crypto assets, and will continue to play an important role as a link between the real world and the digital world.

This sharing by Dr. Fang clarified the compliance direction and regulatory framework for stablecoins in the industry, emphasizing that compliance is key to sustainable development, and that timely risk identification is the long-term solution.

  • Sharing Topic 2: Current Compliance Status and Future Trends of RWA

Mao Jiehao, a senior lawyer at Shanghai Mankun Law Firm and a member of the Shanghai Bar Association's Digital Technology and Artificial Intelligence Committee, conducted this sharing on the theme of 'Current Compliance Status and Future Trends of RWA'. Lawyer Mao specializes in legal services for the Web 3.0 industry, focusing on various legal compliance areas including RWA and NFTs, with rich experiential insights.

Lawyer Mao analyzed the current compliance status and concluded that 'multiple regions exploring, the framework gradually emerging.' He selected cases combining the compliance status of RWA in Hong Kong and internationally for analysis. He pointed out that the RWA supervision in Hong Kong involves multiple departments such as the SFC and HKMA working together, with the SFC setting out the 'A-S-P-I-Re' roadmap, and the Ensemble sandbox covering multiple use cases; the Bank for International Settlements defines tokenization as the digital representation process of traditional assets on programmable platforms, which can enhance trading efficiency. Combining cases such as the Huaxia Hong Kong Dollar Digital Currency Fund and Ant Chain - Xiexin New Energy, Lawyer Mao emphasized that compliant stablecoins are subject to multiple levels of regulation.

Lawyer Mao emphasized that in the future, RWA will present multiple forms of development, and the types of assets will become more diverse. However, there is currently no clear standardized compliance structure, and innovation should be attempted within the scope permitted by existing laws. Enterprises need to prepare for long-term planning and explore more business possibilities under the premise of compliance.

Conclusion

This training focused on two hot areas in the Web 3.0 ecosystem: stablecoins and RWA. Through in-depth interpretations and case sharing by two guests, it helped legal practitioners and Web 3.0 professionals clarify the compliance framework. It analyzed the global regulatory dynamics while also incorporating local practice cases, assisting participants in seizing business development opportunities in Web 3.0, avoiding legal risks, and injecting professional wisdom into the industry's compliance efforts!

/END.

Author of this article: Mankun Branding Department