Hong Kong’s monetary authority (HKMA) warned investors that he has not approved any Stablecoin issuer, labeling products as illegal, reports the SCMP.
The statement came after Anchorx, based in Hong Kong, announced the introduction of Axcnh, a stable linked to the Chinese yuan on the high seas. The company said it had a license from the Astana Financial Services Authority of Kazakhstan and that the currency would support the cross -border payments and active world tokenized, according to the SCMP.
In a statement about his official Wechat channel, the HKMA said he had not been licensed in an entity to broadcast Stablecoins in the city and advised the public to remain cautious.
This marks the first proof of the new Stablecoin Rules of Hong Kong, which entered into force in August. According to the regime, Stablecoin issuers must comply with strict standards around the license, capital and governance.
The time of warning is remarkable. China’s own stock regulator urged the stock market runners to Real world asset tokenization pause (RWA) Activity in Hong Kong, citing risk management concerns.
