HKMA Warns Public as Hong Kong Outlaws Unlicensed Stablecoin Ads
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Hong Kong’s monetary regulator has warned investors to avoid unlicensed stablecoin promotions ahead of a new law taking effect August 1, which will impose criminal penalties for violations.
The Stablecoin Ordinance introduces fines of up to HK$50,000 (US$6,300) and potential six-month jail terms for illicit promotions. HKMA CEO Eddie Yue emphasized that the rules are designed to protect retail investors from misleading schemes and speculative bubbles.
“Unchecked hype has led to unjustified price surges and trading spikes,” Yue said, signaling a tougher stance on unregulated crypto promotions.
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