Dear Experts, kindly inform:
Shall an company registered in Hong Kong make KYC and ALM for its Utility token sale (ICO) and at the same time prevent US, China, etc. citizens from doing contributions?
There are a whole lot of unknowns packed into your question. The reality is that we are waiting for precedent from the SEC and its Chinese counterpart. I don't know much about Chinese regulations, but I would urge caution regarding US investors. You mention that the ICO is for a "utility token." Merely calling it a "utility token" (especially if you market it as an investment) does not mean the token is not a security. If it turns out your token is an unregistered security, you may have a lot of headaches and legal worries in your future.
If your token is a security, you need to register it with the SEC and go through all the associated red tape. Otherwise, you risk SEC enforcement actions. Otherwise, it's commonplace to prohibit US investors entirely (and at least enforce some sort of IP ban along with disclaimers).
From
their December statement:
Merely calling a token a utility token or structuring it to provide some utility does not prevent the token from being a security. Tokens and offerings that incorporate features and marketing efforts that emphasize the potential for profits based on the entrepreneurial or managerial efforts of others continue to contain the hallmarks of a security under U.S. law.