The financial authorities of Hong Kong have just issued a new Security TokenToken
– is an accounting unit that is used to represent a digital balance in an asset.Details Offerings (STO).
A new update comes from the financial authorities of Hong Kong. The Securities and Futures Commission (SFC) of Hong Kong has just issued a guide regarding the Security Token Offerings (STO).
Interesting in the section: Advantages and Prospects of EOS
According to the new leadership, a cryptocurrency should be tied to a material underlying asset, precious metals such as gold or real estate.
Security tokens are also considered securities because they are profitable.
In accordance with the new regulations, any parties that want to offer STO in the region are required to register and obtain licenses.
In addition, the new guide states that only professional investors can invest in STO, which means that individuals with less than 8 million Hong Kong dollars (HKD) or about 1,019,000 US dollars cannot directly invest in STO.
Interesting in the section: Perspectives and features of AeternityHong Kong Financial Services announced the issuance of a new STO regulation. With clear and proper rules, the adoption of cryptocurrency can be a very positive development for Hong Kong.
Editor: Yuliya Soroka