Hong Kong Monetary Authority: Beware of False Tokens Claiming Association with Licensed Stablecoin Issuers

BlockBeats News, April 29th. The Hong Kong Monetary Authority announced to beware of tokens claiming to be associated with licensed stablecoin issuers. There have been tokens in the market using the codenames "HKDAP" or "HSBC," but these tokens are not issued by the licensed stablecoin issuers and have no affiliation with the issuers.

The Hong Kong Monetary Authority has urged the public to stay vigilant and pay attention to statements issued by Anchor Financial Technology Limited and The Hongkong and Shanghai Banking Corporation Limited regarding the above situation. As of now, both licensed stablecoin issuers have stated that they have not issued any regulated stablecoins in the market. The Hong Kong Monetary Authority reminds the public to remain cautious of any fraudulent activities claiming to be associated with the licensee or their stablecoin issuance.