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
The AI arms race extends upstream! Reports say Intel, Nvidia, and AMD are prepaying over 100 billions NTD to secure advanced IC substrate production capacity.
NVIDIA, Intel, and AMD have collectively spent $5 billion in advance payments to aggressively secure high-end IC substrates from Taiwan. Driven by "big money for guaranteed orders," the top three Taiwanese substrate manufacturers have invested a record NT$161.2 billion to expand their production capacity. The tech giants' substantial financial commitments to secure supply chains highlight the intense competition and extreme scarcity of core AI materials.
Brent Crude Oil Hits $116 as Markets Weigh Another Inflation Shock
Crypto prices
More
