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 maximu...