Hong Kong Monetary Authority Alerts: Exercise Caution with Fake Stablecoin Issuance and Investment Schemes
Publication Time:2024-07-22 19:21:10
Recently, the Hong Kong Monetary Authority (HKMA) released an announcement on its social media platform, highlighting that participants in the stablecoin issuance process through the sandbox mechanism do not raise public funds or offer investment products. This initiative is intended to uphold market discipline and encourage users to safely comprehend and manage risks related to digital currencies. It is imperative for the public to exercise caution when entering this domain and to avoid falling prey to fraudulent schemes. Claims regarding fund raising or investment products should always be cross-checked against the official position of the Hong Kong Monetary Authority.
digital assets
fraud
stablecoin
Hong Kong Monetary Authority
Investor Protection