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The financial authorities of Hong Kong have just published a new regulation on securities token offers (STO).
A new update comes from the financial authorities of Hong Kong. The Securities and Futures Commission (SFC) of Hong Kong has issued a guideline for the offering of securities tokens (STOs).
According to the new directive, cryptocurrency must be tied to a tangible underlying badet, including precious metals such as gold and real estate badets such as real estate.
Security tokens are also considered titles because of their profit-generating nature, as reported by BeinCrypto.
With the new regulations, all parties wishing to offer STOs in the region are required to register and obtain licenses.
In addition, the new directive specifies that only professional investors are allowed to invest in STOs, which means that persons under 8 million HKD or approximately 1,019,000 USD can not invest directly in corporate actions.
The term above is followed by a series of implications, such as the added protection that will benefit organizations and individuals from fraudulent investment schemes and the lower probability of success of wrong STO systems. packaged, professional investors having to carry out an appropriate prior checking before investing.
With clear and appropriate regulation, the adoption of cryptocurrency could well be imminent for Hong Kong.
Paste with Chepicap to get the latest updates from the cryptographic space. In the meantime, check out our YouTube channel to find out where Bitcoin will be transferred from the current state.
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