Hong Kong Treasury Secretary: If NFTs constitute "collective investment" or "securities", they must be licensed by the Securities and Futures Commission before they can be sold

PANews · 2023-10-07T13:53:01.000Z

PANews reported on October 7 that according to Dongwang, the Secretary for Financial Services and the Treasury of Hong Kong, Hui Ching-yu, revealed when attending the Hong Kong Investment Committee program that the Hong Kong Monetary Authority is preparing for a public consultation on stable currency supervision. In addition, if non-fungible tokens (NFTs) only exist in digital form and are not regulated by the China Securities Regulatory Commission, but constitute a "collective investment" or "securities", they must obtain permission from the China Securities Regulatory Commission before they can be sold to the market. .

PANews reported on October 7 that according to Oriental Daily, Hong Kong Financial Services and Treasury Secretary Paul Chan revealed during a program of the Hong Kong Investment Committee that the Hong Kong Monetary Authority is preparing for a public consultation on stablecoin regulation. In addition, if non-fungible tokens (NFTs) are only collectibles in digital form and are not regulated by the SFC, but constitute a "collective investment" or "securities", they must be licensed by the SFC before they can be sold to the market.