CoinVoice has recently learned that the Hong Kong Monetary Authority (HKMA) issued a statement today warning that recent illegal activities involve individuals using the HKMA logo to promote stablecoin sales leaflets. The HKMA reiterated that since the implementation of the Stablecoin Ordinance on August 1, the sale of stablecoins must be carried out by licensed stablecoin issuers, corporations holding Type 1 licenses from the Securities and Futures Commission, virtual asset trading platforms, banks, or licensed stored value payment tool providers. Currently, virtual asset OTC Trading institutions are not within the permitted scope. The HKMA reminds the public that if they purchase non-regulated stablecoins through unregulated channels, the related risks must be borne by the individuals.

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