Hong Kong's monetary authority responded to concerns over Chelsea FC's plan to feature USDC on its jerseys for the 2026-27 season, stating it will not comment on individual cases but will assess promotional activities on a case-by-case basis. The HKMA reminded that regulations prohibit the aggressive marketing of unauthorized stablecoin activities in Hong Kong. Factors to determine whether a promotion constitutes active solicitation include the language used, whether the target audience includes Hong Kong residents, whether a Hong Kong domain is used, and the existence of a detailed promotion plan. The authority also noted that publishers and livestreamers who merely republish content created by others may be eligible for a special exemption, subject to conditions. The jersey sponsorship comes after Circle became Chelsea's main sponsor, with USDC logos set to appear in the Premier League.
Sing Tao Daily says Chelsea FC will put the USDC logo on player jerseys in the 2026-27 season. But Circle is not a registered stablecoin issuer in Hong Kong, and that has fans and retailers worried that wearing or selling those shirts could breach local law and amount to illegal promotion.
The Hong Kong Monetary Authority (HKMA) responded by saying it would not speak about individual cases. Still, it said the rules ban active marketing or promotion in Hong Kong for unauthorized stablecoin activities. Whether any given act counts as aggressive promotion to the public has to be judged case by case. The HKMA said that depends on things like the wording in the promotional materials, whether Hong Kong residents are part of the target audience, whether a Hong Kong domain is being used, and whether there is a detailed promotion plan for the activity.
The HKMA also said publishers and livestreamers that simply pass along content made by others could qualify for a special exemption. That applies only if they satisfy the conditions in the relevant provisions and after all facts and circumstances are taken into account.
Earlier, Circle was named Chelsea's main jersey sponsor, with the USDC logo due to appear in the Premier League.
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan. Disclaimer:
The market information, project data, and third-party content displayed on this platform are for industry information sharing only and do not constitute any form of investment advice or return commitment.
Cryptocurrency trading carries high risks. Users should fully assess their risk tolerance and make independent decisions. All profits, losses, and legal responsibilities are borne by the users themselves.
