Hong Kong Monetary Authority Warns of Fraudulent Tokens

The Hong Kong Monetary Authority has issued a warning regarding tokens labeled "HKDAP" and "HSBC," stating that they are fraudulent and not associated with licensed issuers HSBC or Anchorpoint Financial. According to NS3.AI, both HSBC and Anchorpoint Financial have confirmed that they have not launched any stablecoins in Hong Kong. HSBC is planning to introduce an HKD-denominated stablecoin in the second half of this year, while Anchorpoint Financial intends to commence a phased launch of HKDAP in the second quarter of this year.