Recently, the Hong Kong Monetary Authority issued an important statement, reminding the public to be vigilant against illegal activities where criminals use the Monetary Authority's logo to promote fraudulent stablecoin sales.

Since the official implementation of the "stablecoin regulations" on August 1, the sale of stablecoins must be conducted by legally authorized institutions. These institutions include licensed stablecoin issuers, corporations holding a Type 1 license from the Securities and Futures Commission, recognized virtual asset trading platforms, banks, and licensed prepaid payment instrument holders. It is worth noting that currently, virtual asset over-the-counter trading institutions are not included in the recognized scope.

The Monetary Authority emphasizes that the public faces potential risks when purchasing unregulated stablecoins through unregulated channels, and these risks are to be borne by individuals themselves. This warning highlights the regulatory body's high regard for protecting investors' interests, while also reflecting Hong Kong's proactive attitude towards the regulation of virtual assets.

This move not only helps to maintain the stability of Hong Kong's financial market but also provides clear guidance for investors. Against the backdrop of an increasingly mature virtual asset market, such regulatory measures will undoubtedly drive the industry towards a more standardized and safer direction. Investors should be particularly cautious when participating in related transactions, ensuring that they operate through legal channels to maximize the protection of their rights and interests.