Hong Kong Securities Regulator Warns of Increased Fraud Risk Amid Stablecoin Regulation

According to Foresight News, the Hong Kong Securities and Futures Commission's Executive Director of the Intermediaries Division, Yeh Chi-hang, highlighted concerns during an interview on the program 'Clarify' regarding the recent implementation of the Stablecoin Ordinance. Yeh noted that some companies have claimed to apply for licenses or intend to do so, resulting in a rise in their stock prices. He observed that investor enthusiasm is high and urged investors to remain rational. The Securities and Futures Commission is worried about the potential increase in fraud risk.