On September 24, the Hong Kong Monetary Authority (HKMA) reminded that social media recently circulated that the world's first stablecoin pegged to offshore RMB has been issued in Hong Kong. Please note that the relevant news is fake news. The Stablecoin Ordinance came into effect on August 1, 2025. Anyone who issues fiat stablecoins in Hong Kong in the course of their business or actively promotes their issuance activities to the Hong Kong public needs to obtain a stablecoin issuer license issued by the HKMA.
Please note that at present, the HKMA has not issued any stablecoin issuer license. Therefore, it is illegal for anyone to conduct stablecoin issuance or promotion. If someone promotes stablecoins to you, please be vigilant. The HKMA will monitor the situation involving stablecoin transactions in the market. If any suspected violations of the Stablecoin Ordinance are found, we will consider taking further follow-up actions based on relevant facts and evidence.
Hong Kong Monetary Authority: There are currently no offshore People's Market stablecoins issued in Hong Kong
2025-09-24 13:36:50
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