PANews reported on September 10th that, according to a Hong Kong government press release, Hong Kong Financial Services and the Treasury Secretary Paul Chan stated that currently only "Approved Providers" may offer specified stablecoins. He reminded the public that virtual asset over-the-counter (OTC) trading institutions are not currently "Approved Providers" and therefore cannot offer specified stablecoins to retail or professional investors. Paul Chan reiterated that the Hong Kong Monetary Authority has not yet issued a license to any stablecoin issuer. Investors will only be protected by regulations if they purchase regulated stablecoins from designated "Approved Providers." Purchasing stablecoins through unregulated channels, or any other unregulated stablecoin, is at their own risk.PANews reported on September 10th that, according to a Hong Kong government press release, Hong Kong Financial Services and the Treasury Secretary Paul Chan stated that currently only "Approved Providers" may offer specified stablecoins. He reminded the public that virtual asset over-the-counter (OTC) trading institutions are not currently "Approved Providers" and therefore cannot offer specified stablecoins to retail or professional investors. Paul Chan reiterated that the Hong Kong Monetary Authority has not yet issued a license to any stablecoin issuer. Investors will only be protected by regulations if they purchase regulated stablecoins from designated "Approved Providers." Purchasing stablecoins through unregulated channels, or any other unregulated stablecoin, is at their own risk.
Xu Zhengyu: Currently in Hong Kong, only "approved providers" can offer specified stablecoins. Purchases of any unregulated stablecoins must be at their own risk.
PANews reported on September 10th that, according to a Hong Kong government press release, Hong Kong Financial Services and the Treasury Secretary Paul Chan stated that currently only "Approved Providers" may offer specified stablecoins. He reminded the public that virtual asset over-the-counter (OTC) trading institutions are not currently "Approved Providers" and therefore cannot offer specified stablecoins to retail or professional investors. Paul Chan reiterated that the Hong Kong Monetary Authority has not yet issued a license to any stablecoin issuer. Investors will only be protected by regulations if they purchase regulated stablecoins from designated "Approved Providers." Purchasing stablecoins through unregulated channels, or any other unregulated stablecoin, is at their own risk.
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