Need to know what happened in crypto today? Here is the latest news on daily trends and events impacting Bitcoin price, blockchain, DeFi, NFTs, Web3 and crypto regulation.
Today in crypto, from Aug. 1, offering or advertising unlicensed stablecoins to retail investors in Hong Kong could get violators a 50,000 Hong Kong dollar fine and six months in jail, Ether slightly dipped on Wednesday as the network’s staking exit queue hit an 18-month high, and Block, Inc. joined the S&P 500 to expand the benchmark index’s exposure to Bitcoin.
Hong Kong will start enforcing its Stablecoin Ordinance on Aug. 1, making it illegal to offer or promote unlicensed fiat-referenced stablecoins (FRS) to retail investors.
The new law introduces criminal penalties of up to a level five fine of 50,000 Hong Kong dollars (about $6,300) and a maximum sentence of six months imprisonment.
