Hong Kong regulators warn ICO tokens or securities


nnnHong Kong Financial Regulatory Authority The Securities and Futures Commission (“the Hong Kong Securities and Futures Commission”) announces that the tolls issued through the first digital currency issue or ICO can be classified as securities. At the same time, the SFC also noted that parties involved in such tokens secondary market transactions (such as in encrypted currency exchanges) may also be subject to the SFC’s licensing and behavioral requirements. And just the day before, the Chinese financial sector has just officially announced that ICO for illegal acts, and asked to return all the relevant investment users.n
nnTranslation: Clovern
nRecently, the Securities and Futures Commission (“the Hong Kong Securities and Futures Commission”), a Hong Kong financial regulator, announced that the tolls issued through the first digital currency issue or ICO could be classified as securities.n
nJulia Leung, executive director of the Hong Kong Securities and Futures Commission’s Intermediary Agency, explained in the statement that the SFC “is very concerned about the use of ICO in Hong Kong and other areas to raise funds.”n
nShe warned that people involved in the ICO project “need to be aware of some ICO structures or are bound by Hong Kong securities laws.”n
nIn addition, according to the SFC, this classification may extend to digital asset transactions other than ICO, which states that:n
nn”Parties involved in such tokens secondary market transactions (eg on encrypted currency exchanges) may also be subject to the SFC’s licensing and behavioral requirements.”n
nnIn the day before the announcement, China’s financial sector has just officially announced that ICO for illegal acts, and asked to return all the relevant investment users.n
nWhile regulators in other parts of the region have begun to warn ICO as a securities.n
nLast month, the Securities and Exchange Commission said the issuance and sale of the digital tokens was or was subject to the requirements of the Federal Securities Act. “Canadian regulators are also conclusive,” in many cases … the currency / tokens should be treated as For the securities. “n

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