PANews, August 2 - The Hong Kong Monetary Authority (HKMA) has officially issued a safety reminder, warning against fraudulent licensed stablecoin schemes. The Hong Kong (Stablecoin Regulation) has officially taken effect, and the regulatory system for stablecoin issuers has also begun implementation. The regulatory framework is still in its early stages, and the regulatory approach will adopt the principle of 'first strict, then stable.' The HKMA specifically reminds market participants to exercise caution when communicating with the public, avoiding statements that could lead to misunderstandings or create unrealistic expectations. Fraudulently claiming to be a licensed entity or applicant is illegal, and citizens who hold unregulated stablecoins must bear the risks themselves.
