Hong Kong Financial Secretary: NFTs that constitute "collective investment" or "securities" must be approved by the Securities and Futures Commission before they can be sold

ChainCatcher news, the Secretary for Financial Services and the Treasury of Hong Kong, Hui Cheng-yu, stated during his appearance on the Hong Kong Investment Committee program that non-fungible tokens (NFTs) that exist solely as digital collectibles are not regulated by the Securities and Futures Commission. However, if they constitute "collective investment" or have the nature of "securities," they must be approved by the Securities and Futures Commission before being sold in the market.

In addition, the Hong Kong Monetary Authority is preparing a public consultation on stablecoin regulation.