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HKMA Warns Fake HKDAP and HSBC Tokens Circulate Before Licensed Stablecoins Launch

2026-04-29 17:51:23

HKMA warned that two counterfeit tokens using the tickers HKDAP and HSBC are circulating before any licensed Hong Kong stablecoin has launched. HKMA said the tokens have no connection to any authorized issuer. Earlier this month, HKMA granted its first stablecoin licenses to two groups from 36 applicants under the Stablecoins Ordinance.

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