The Hong Kong Securities and Futures Professionals Association recommends creating a portal for initial coin offerings (ICOs).
In the 15-item recommendation list prepared by the association for the authorities’ work on the 2024-25 budget Establishing a mechanism to regulate ICOs also took part.
Many cryptocurrency projects that are popular today entered the market through ICOs, which became popular after Ethereum was established.
Similar to IPOs, ICOs are also to many scams led. Some agencies, such as the SEC in the US, have sanctioned some ICOs for violating securities laws.
The Hong Kong Securities and Futures Commission had issued a warning to the regulators of some ICOs that were considered securities.