The Hong Kong Monetary Authority warns against false stablecoin claims, reiterating that sales must be approved by providers
2025-08-08 15:59:32
The HKMA today issued a statement warning of the recent use of the HKMA logo by criminals to publish promotional leaflets on stablecoin sales. The HKMA reiterated that with the commencement of the Stablecoin Ordinance on August 1, stablecoin sales must be carried out by licensed stablecoin issuers, corporations holding Type 1 licenses of the Securities Supervision Commission, virtual asset trading platforms, banks or licensed holders of stored value facilities. Currently, institutions over the counter of virtual assets are not covered by the approval. The HKMA reminds the public that if non-regulated stablecoins are purchased through non-regulated channels, the relevant risks need to be borne by individuals.
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