🇭🇰 Hong Kong strengthens control over stablecoins
The HKMA warns about unauthorized sales of stablecoins following cases of fraud with fake brochures.
From August 1, only licensed issuers will be allowed to operate. Penalties include fines of up to HK$50,000 and six months in prison.
OTC is excluded as authorized providers.
Hong Kong positions itself as a leader in crypto regulation in Asia, seeking to protect investors and prevent fraud.
