Hong Kong to Enforce Stablecoin Licensing Law From August 1, Introducing Jail Terms for Unlicensed Promotions
Starting August 1, Hong Kong will enforce its new Stablecoin Ordinance, making it a criminal offence to offer or promote fiat-referenced stablecoins (FRS) to retail investors without a license. Under the law, violators face fines of up to 50,000...