The Hong Kong Monetary Authority officially announced the implementation of new stablecoin regulatory regulations starting from August 1. This move will undoubtedly have a profound impact on the Digital Money market. The regulations not only restrict retail investor participation but also impose severe penalties for violations, including fines of up to 5 million HKD and imprisonment for 7 years.
The warning from the Monetary Authority's Chief Executive, Yu Weiman, has attracted widespread attention. He clearly stated that retail investors holding certain Digital Money may violate the law, whic
View OriginalThe warning from the Monetary Authority's Chief Executive, Yu Weiman, has attracted widespread attention. He clearly stated that retail investors holding certain Digital Money may violate the law, whic