The Hong Kong Monetary Authority (HKMA) has categorically denied rumors about the issuance of the world’s first offshore yuan-pegged stablecoin under its jurisdiction. Following the implementation of the Stablecoin Ordinance on August 1, which mandates licensing for all stablecoin issuers in Hong Kong, the HKMA stressed that no licenses have been granted so far. The regulator warned the public against false information that could mislead investors and highlighted its ongoing efforts to monitor and enforce compliance with the new regulatory framework to safeguard market stability and investor protection.
Continue to read HKMA Clarifies No Offshore Yuan-Pegged Stablecoin Issued Amidst New Licensing Rules
The Hong Kong Monetary Authority (HKMA) has categorically denied rumors about the issuance of the world’s first offshore yuan-pegged stablecoin under its jurisdiction. Following the implementation of the Stablecoin Ordinance on August 1, which mandates licensing for all stablecoin issuers in Hong Kong, the HKMA stressed that no licenses have been granted so far. The regulator warned the public against false information that could mislead investors and highlighted its ongoing efforts to monitor and enforce compliance with the new regulatory framework to safeguard market stability and investor protection.
Continue to read HKMA Clarifies No Offshore Yuan-Pegged Stablecoin Issued Amidst New Licensing Rules
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