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Hong Kong Only Allows 'Recognized Providers' to Offer Designated Stablecoins, Purchasing Unregulated Stablecoins Carries Risks

Summary: According to reports from the Hong Kong government news release, Hong Kong's Secretary for Financial Services and the Treasury, Christopher Hui, stated that currently only 'recognized providers' are allowed to offer designated stablecoins. He reminded the public that virtual asset trading platforms outside the regulatory framework are not considered 'recognized providers' and therefore cannot offer ...

According to reports from the Hong Kong government news release, Hong Kong's Secretary for Financial Services and the Treasury, Christopher Hui, stated that currently only 'recognized providers' are allowed to offer designated stablecoins. He reminded the public that virtual asset trading platforms outside the regulatory framework are not considered 'recognized providers' and therefore cannot offer designated stablecoins to retail or professional investors. Hui reiterated that the Hong Kong Monetary Authority has not issued licenses to any stablecoin issuers yet, cautioning...

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Link: Hong Kong Only Allows 'Recognized Providers' to Offer Designated Stablecoins, Purchasing Unregulated Stablecoins Carries Risks [Copy]

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