Hong Kong authorities have launched an educational program to inform the public about the risks associated with investing in ICOs and cryptocurrency.
The program launched yesterday, 29 January 2018, and was developed by Hong Kong's FSTB and the Investor Education Center (IEC), a subsidiary of the Hong Kong Securities and Futures Commission (SFC).
Various channels of information will be used to inform citizens, including the city's MRT system, television and social media. The program is a government initiative designed to ensure that citizens have a complete and correct understanding of what ICOs and cryptocurrencies are, given the growing interest in them, so that citizens can properly assess the risks before making transactions or investments, said Joseph Chan, Deputy Secretary of the FSTB.
In addition, the IEC has provided access to sources of information about ICOs and cryptocurrencies on its website called Chin Family.
The initiative also follows recent warnings from the SFC last September year that tokens issued through ICO can be considered as securities, and therefore relevant legislation can be applied to them. The financial regulator also said last month that only licensed firms are allowed to offer bitcoin futures and other cryptocurrency-related financial instruments.
According to https://www.coindesk.com
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