Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesCopyBotsEarn
Hong Kong Monetary Authority consultation document: Unlicensed issuance and promotion of stablecoins are criminal offenses and may be punished with a

Hong Kong Monetary Authority consultation document: Unlicensed issuance and promotion of stablecoins are criminal offenses and may be punished with a

CointimeCointime2023/12/28 02:00
By:Cointime

On December 28th, according to Hong Kong media "Sing Tao Daily", according to the Hong Kong Monetary Authority's stable currency consultation document, it is a criminal offense to issue stable coins without a license in Hong Kong, and to advertise and promote stable coins issued by non-license issuers. The document also recommends that a series of civil and regulatory sanctions should be introduced into the regulatory system. The Hong Kong Monetary Authority may consider implementing appropriate punishments based on the seriousness and duration of the violations, including temporary or permanent revocation of licenses, revocation of licenses, fines not exceeding 10 million yuan, or fines equivalent to three times the amount of profit obtained or losses avoided due to the violation, whichever is higher.

0

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.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

Code of Joker game will reappear on smartphones in a new version via Sui blockchain

Share link:In this post: The arcade Code of Joker existed from 2013 to 2019 The game will run on a platform Mysten acquired just days ago. Sui partnered with Jokers, Inc., which is obtaining more games to revive in Web3

Cryptopolitan2025/03/15 01:11