BlockBeats News, August 2, the Hong Kong Monetary Authority officially released a safety warning, cautioning against fraudulent licensed stablecoin schemes. The Hong Kong (Stablecoin Regulation) has officially come into 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 steady.'
With the implementation of the regulatory system, market participants should exercise caution when communicating with the public to avoid making statements that could lead to misunderstandings or create unrealistic expectations. According to the (Stablecoin Regulation), it is illegal to falsely claim to be a licensee or applicant.
As of today, the Monetary Authority has not issued any stablecoin issuer licenses. The public should be wary of any claims that stablecoins or stablecoin issuers are 'regulated' or 'licensed' in Hong Kong. Once licenses are issued, the Monetary Authority will upload the list of licensed stablecoin issuers to its official website.