Hong Kong to Enforce Criminal Penalties for Unlicensed Stablecoin Ads

Hong Kong to Enforce Criminal Penalties for Unlicensed Stablecoin Ads

In a significant move to strengthen regulatory oversight in digital finance, Hong Kong will begin enforcing its Stablecoin Ordinance on August 1, making it a criminal offense to offer or advertise unlicensed fiat-referenced stablecoins (FRS) to retail investors. Violations will carry penalties of up to HK$50,000 (approximately $6,300) and a maximum prison sentence of six months. The new regulation, introduced by the Hong Kong Monetary Authori...

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