Chelsea's USDC Jersey Print Raises Concerns from Hong Kong Monetary Authority

Chelsea FC will print "USDC" on player jerseys for the 2026-27 season, raising concerns among fans and retailers who fear that wearing or selling the jersey may violate Hong Kong laws and constitute illegal promotion. The Hong Kong Monetary Authority stated that it would not comment on individual cases but noted that relevant regulations prohibit the "active promotion" or advertising of unauthorized stablecoin activities in Hong Kong. Whether it constitutes active marketing to the public depends on specific circumstances, including the language used in the promotion, whether the target audience includes Hong Kong residents, whether a Hong Kong domain is used, and whether there is a detailed promotional plan. Publishers and livestreamers who only release content created by others may qualify for special exemptions if they meet relevant terms and conditions. USDC issuer Circle has announced that it will be the main sponsor on the front of Chelsea's new jerseys, although the specific amount has not been disclosed.

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