HONG KONG SAR, CHINA
Law and Practice Contributed by: Pang Lee, Joyce Wang, Mark Liang and Francis Li Cooley
Contents 1. Overview of Blockchain and Crypto-Assets p.289 1.1 Blockchain p.289 1.2 Crypto-Assets p.292 2. Regulation p.295 2.1 Regulators and International Alignment p.295 2.2 Crypto-Asset Regulatory Frameworks p.295 2.3 Regulated Firms and Legal Wrappers p.296 2.4 Token Issuance p.297 2.5 Market Abuse p.297 2.6 Non-Compliance p.297 3. Licensing and Set-Up Requirements p.298
3.1 Licensing Requirements p.298 3.2 Set-Up Requirements p.298 3.3 Change of Control p.299 3.4 Passporting p.299 4. Cross-Border Services p.299 4.1 Marketing p.299 4.2 White Labelling p.300 5. Decentralised Finance p.300 5.1 Ability to Use DeFi p.300 5.2 DeFi Structures p.300 5.3 Liability p.301 6. Payments and Stablecoins p.301
6.1 Payments p.301 6.2 Stablecoins p.301 7. Tokenisation and Real-World Assets p.302 7.1 Treatment p.302
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