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Hong Kong Monetary Authority: Beware of false tokens claiming to be associated with licensed stablecoin issuers
Golden Finance reports that on April 29th, the Hong Kong Monetary Authority announced that caution should be exercised regarding tokens claiming to be associated with licensed stablecoin issuers. Market has seen tokens using the code “HKDAP” or “HSBC,” but these tokens are not issued by licensed stablecoin issuers and have no connection to the issuers.
The Hong Kong Monetary Authority urges the public to stay alert and pay attention to statements issued by Dotpoint Financial Technology Limited and Hongkong Shanghai Banking Corporation Limited regarding the above situation. As of now, both licensed stablecoin issuers have stated that they have not issued any regulated stablecoins in the market. The Hong Kong Monetary Authority reminds the public to remain vigilant against any fraudulent activities claiming to be related to licensed entities or their issued stablecoins.