USDC Chelsea Jersey Incident Draws Attention, Hong Kong Monetary Authority Responds No Comment on Individual Cases

Odaily Planet Daily Report: English Premier League powerhouse Chelsea will feature "USDC" on player jerseys for the 2026-27 season. However, since Circle is not a registered stablecoin issuer in Hong Kong, fans and retailers are concerned that wearing or selling such jerseys could violate local laws and constitute illegal promotion.

In response, the Hong Kong Monetary Authority (HKMA) stated that it will not comment on individual cases, but noted that the relevant regulations prohibit the "active marketing" or promotion of unauthorized stablecoin activities in Hong Kong. Whether a particular act constitutes active marketing to the public depends on the specific circumstances, with factors including the language used in the promotional materials, whether the target audience includes Hong Kong residents, whether Hong Kong domain names are used, and whether there is a detailed promotional plan targeting the activity. Publishers and live streamers who merely republish content created by others may be eligible for a special exemption, provided they meet the conditions specified in the relevant provisions and considering the relevant facts and circumstances.

Previously, it was reported that Circle, the issuer of USDC, announced it had become the new front-of-shirt main sponsor for Premier League club Chelsea, with the specific financial terms undisclosed. (Sing Tao Daily)