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Cryptocurrency News

Hong Kong’s Securities and Futures Commission warn of nonfungible token risks

06/06/2022

Less than a minute

2022.06.06 21:01

Hong Kong's Securities and Futures Commission warn of nonfungible token risks
Hong Kong’s Securities and Futures Commission warn of nonfungible token risks

On Monday, Hong Kong’s Securities and Futures Commission (SFC) released a statement warning investors about the risks of nonfungible tokens, or NFTs, which have soared in popularity in recent years. The regulatory body wrote:

However, it appears that the SFC’s specific concern lies in the securitization of NFTs. “The majority of NFTs observed by the SFC are intended to represent a unique copy of an underlying asset such as a digital image, artwork, music or video,” which do not require regulation by the SFC.

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06/06/2022

Less than a minute