CoinVoice has recently learned that the Hong Kong Monetary Authority (HKMA) issued a statement today warning that recent illegal activities involve individuals using the HKMA's logo to publish promotional flyers for stablecoin sales. The HKMA reiterates that since the Stablecoin Ordinance came into effect on August 1, stablecoin sales must be conducted by authorized providers, including licensed stablecoin issuers, corporations holding a Type 1 license from the Securities and Futures Commission, virtual asset trading platforms, banks, or license holders of stored value payment tools. Currently, virtual asset over-the-counter trading institutions are not within the scope of authorized providers. The HKMA reminds the public that if they purchase unregulated stablecoins through unregulated channels, the associated risks must be borne by the individual. [Original link]