Hong Kong Monetary Authority Responds to "USDC Chelsea Jersey" Concerns: Will Not Comment on Individual Cases, Will Comprehensively Assess Violations

According to Sing Tao Daily, Premier League giant Chelsea will print "USDC" on players' jerseys for the 2026–27 season. However, as it is not a registered stablecoin issuer in Hong Kong, fans and retailers are concerned that wearing or selling such jerseys may violate regulations and constitute illegal promotion. In response, the Hong Kong Monetary Authority stated it would not comment on individual cases, but noted that relevant regulations prohibit the "active promotion" or publicity of unauthorized stablecoin activities in Hong Kong. Whether an act constitutes active marketing to the public depends on specific circumstances, considering factors such as the language used in promotional materials, whether the target audience includes Hong Kong residents, the use of a Hong Kong domain name, and whether there is a detailed promotional plan for the activity.