According to a report by Shenchao TechFlow on August 8, the Hong Kong Monetary Authority (HKMA) released a statement today, reminding the public about recent promotional flyers for stablecoins that misuse the HKMA's logo. The HKMA reiterated that, in accordance with the Stablecoin Regulation that came into effect on August 1, the sale of stablecoins must be conducted through licensed stablecoin issuers, licensed Type 1 regulated activity corporations by the Securities and Futures Commission, virtual asset trading platforms, banks, and licensed stored value payment instrument providers. Currently, virtual asset OTC Trading institutions do not fall under the category of licensed providers. The HKMA warns that risks associated with purchasing unregulated stablecoins through unregulated channels must be borne by the purchaser.

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