Stablecoin oversight tightens in Hong Kong
Adding to recent developments in the stablecoin space, Hong Kong regulators have issued a warning to investors about stablecoin-related speculation. They cited sharp price swings caused by unverified licensing claims.
In a joint statement, the Hong Kong Monetary Authority and the Securities and Futures Commission said only a few firms have formally contacted them.
These firms are seeking approval under the city’s new stablecoin licensing regime.
Source: hkma.gov
Authorities emphasized that social media-driven hype does not equate to regulatory approval and could mislead the market.
The SFC is actively monitoring manipulation risks and pledged strict action against misleading or false claims. Investors were urged to prioritize due diligence over market rumors.
Next: Dogecoin price prediction – Whales buy 200B DOGE as $0.30 rally looms!
Source: https://ambcrypto.com/citigroup-explores-stablecoin-custody-crypto-asset-services-heres-why/
