The Hong Kong Securities and Futures Professional Association considers an ICO revival as part of economic recovery measures. The proposal, amidst suggestions for Islamic finance recognition, lacks clarity on the ICO framework. Regulatory challenges and the recent decline in ICO activity add complexity to the initiative.
The Hong Kong Securities and Futures Professional Association, led by President Chen Zhihua, recently proposed a series of measures for the economic revival of the region. Among these, the suggestion to explore an initial coin offering (ICO) mechanism stands out. However, the absence of detailed information leaves uncertainties about the nature and extent of this proposal.
As the era of ICOs seemingly concluded in 2020 due to regulatory pressures and increased institutional involvement, the association’s proposal raises eyebrows. Questions linger regarding whether the suggested ICO involves a comprehensive framework or the establishment of an authorized platform. Concurrently, Hong Kong authorities are actively shaping crypto regulations, emphasizing responsibility and operational soundness for tokenized securities.