HONG KONG: The Hong Kong government is considering regulating crowdfunding campaigns in a bid to prevent money being used for activities that endanger national security or other illegal purposes.
Typically using digital platforms, crowdfunding raises money from a large number of people who contribute relatively smaller amounts, with the promise of delivering products, services or equity to its funders.
Secretary for Financial Services and the Treasury Christopher Hui Ching-yu on Thursday said a public consultation was in the pipeline for later this year to examine whether such platforms needed to be registered and required to…
