The Securities and Futures Commission has no tolerance for any fraud through Initial Coin Offerings, says its executive director, Julia Leung Fung-yee.
"We will go after you," she said.
The role of the SFC is to protect retail investors who have no or little knowledge about ICO investment, Leung said at a financial technology conference yesterday.
The commission is discussing and pursuing research with the industry in relation to investor protection; for example, how to make sure customers assets are correctly separated from company assets, Leung said. In September, the financial regulator made an announcement that all the crypto-currency activities must be regulated by the nature of securities and fund-raising investments involved.