The Hong Kong Monetary Authority (HKMA) issued a public alert through its Facebook profile regarding the circulation of a promotional leaflet for stablecoins that improperly used its logo. The HKMA clarified that it did not issue such material and that it is not official.

The statement reinforces that, in Hong Kong, the offering of fiat-backed stablecoins to investors – whether retail or professional – can only be done by authorized providers. The list of these providers includes:

* Licensed stablecoin issuers.

* Companies licensed by the Securities and Futures Commission (SFC) for regulated activities (Type 1).

* Licensed virtual asset trading platforms by the SFC.

* Banks.

* Companies with a license for stored value facilities.

The note also emphasizes that unauthorized providers, such as over-the-counter (OTC) virtual asset trading institutions, cannot offer stablecoins. The original source of the information is Wu Blockchain.