Media: Promoting or Appearing to Promote Stablecoin Sales to the Public in Hong Kong Also Requires a License
According to the Daily Economic News, the Hong Kong Stablecoin Regulations only allow designated licensed institutions to sell fiat-backed stablecoins in Hong Kong, and only fiat-backed stablecoins issued by licensed issuers can be sold to retail investors. Besides the aforementioned situation, there is another scenario of "active promotion," meaning that even if one is not directly engaged in regulated stablecoin activities, if they actively promote to the public in Hong Kong or other regions that they are or appear to be conducting such activities, they also need to apply for a license.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
MoonPay Ventures announces strategic investment in crypto wallet Zengo Wallet
US prosecutors deny pressuring FTX executives to plead guilty
A whale sold part of their WBTC holdings and fully liquidated ETH, realizing a loss of $26.348 million in 4 months.
Banmuxia: Bitcoin's likely support range is between $81,800 and $74,800
