Hong Kong Monetary Authority Warns Against Unauthorized Stablecoin Sales

According to BlockBeats, the Hong Kong Monetary Authority (HKMA) has issued a warning regarding the unauthorized use of its logo in stablecoin sales promotions. The HKMA emphasized that since the Stablecoin Ordinance came into effect on August 1, stablecoin sales must be conducted by licensed stablecoin issuers, entities holding a Type 1 license from the Securities and Futures Commission, virtual asset trading platforms, banks, or licensed stored value facility providers. Currently, over-the-counter virtual asset trading institutions are not included in the authorized providers. The HKMA cautioned the public that purchasing unregulated stablecoins through non-regulated channels involves risks that individuals must bear themselves source: https://www.binance.com/en/square/post/28045645851073?utm_source=BinanceNewsRSS