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Hong Kong: Securities and Futures Commission issues guidance on risks associated with non-fungible tokens

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Description

Securities and Futures Commission issues guidance on risks associated with non-fungible tokens

On 6 June 2022, the Securities and Futures Commission issued a guidance for investors to lay out the risks associated with investing in non-fungible tokens (NFTs). The note reminds investors of the dangers of illiquid secondary markets, volatility, opaque pricing, hacking, and fraud and advises them to avoid investing in NFTs if they do not completely have a grasp on their functioning.

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Scope

Policy Area
Other operating conditions
Policy Instrument
User/subject right
Regulated Economic Activity
digital payment provider (incl. cryptocurrencies)
Implementation Level
national
Government Branch
executive
Government Body
other regulatory body

Complete timeline of this policy change

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2022-06-06
adopted

On 6 June 2022, the Securities and Futures Commission issued a guidance for investors to lay out th…