December
2022
Following a three-month consultation process on the issue of crowdfunding regulation, the Hong Kong government has announced a proposal to establish a dedicated Crowdfunding Affairs Office—supervised by the Financial Services and the Treasury Bureau—to monitor and regulate all crowdfunding activities in the city.
Summary
This proposed crowdfunding regulation follows other attempts, such as the prosecutions of pro-democracy protest funds, by the Hong Kong government to suppress political organizing in the city. These efforts are likely to pose a challenge to attempts by Hong Kong authorities to promote the city as a friendly environment for international businesses, and reflect a situation where the political risks posed by Hong Kong’s regulatory environment increasingly resemble those of mainland China.
Analysis
