Figure's Home Equity Line of Credit token, known as Figure Heloc, has surged to become the tenth-largest cryptocurrency by market size, exceeding $15 billion. However, the token faces criticism for its limited onchain activity and liquidity. Supporters defend it as a legitimate real-world asset on the blockchain.

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Chinese authorities have released a new regulatory framework specifically addressing the tokenization of real-world assets in the cryptocurrency sector. This development aims to provide guidelines for integrating traditional assets with blockchain technology. The framework marks a significant step in China's approach to crypto innovation under controlled conditions.

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