Underestimating KYC Resistance: What China's Informal RWA Pause Request to Hong Kong Brokerages Reveals

https://storyconsole.westword.com/sc/on-the-operational-turn-in-late-2025/

How an informal pause rippled through RWA pipelines in Hong Kong In late 2025, market participants in Hong Kong reported that an informal instruction from mainland regulators prompted several brokerages to pause onboarding and settlement for