ChainCatcher News: According to an official safety alert issued by the Hong Kong Monetary Authority, be wary of fraudulent licensed stablecoin scams. The Hong Kong 'Stablecoin Ordinance' has officially come into effect, and the regulatory framework for stablecoin issuers is also being implemented simultaneously. The regulatory system is still in its early stages, and the approach will be 'strict first, then steady' in regulatory philosophy.

With the regulatory framework in place, market participants should act cautiously when communicating publicly to avoid making statements that might lead to misunderstandings or create unrealistic expectations. According to the 'Stablecoin Ordinance,' falsely claiming to be a licensee or applicant is illegal.

As of today, the Monetary Authority has not issued any stablecoin issuer licenses, and the public should be wary of any claims that a stablecoin or stablecoin issuer is 'regulated' or 'licensed' in Hong Kong. After licenses are issued, the Monetary Authority will upload the list of licensed stablecoin issuers to its official website.