Recently, the Hong Kong Monetary Authority (HKMA) issued an important security alert, attracting widespread attention. With the official implementation of the Stablecoin Ordinance, the regulatory system for stablecoin issuers in Hong Kong has also been launched. This marks an important step for Hong Kong in the regulation of Crypto Assets, while also bringing new challenges and opportunities to the market.

The monetary authority emphasized that the current regulatory system is still in its infancy and will adopt a strategy of "strict at first, then lenient, and steady progress." This approach aims to ensure market stability and protect investors' rights. At the same time, the monetary authority also calls on market participants to remain cautious in public communication, avoiding statements that may lead to misunderstandings or unrealistic expectations.

It is worth noting that according to the newly enacted "Stablecoin Regulations", any false claims of being a licensee or applicant will be considered illegal. As of now, the Monetary Authority has not issued any stablecoin issuer licenses to any institution. Therefore, the public should remain vigilant against stablecoins or stablecoin issuers claiming to be "regulated" or "licensed" in Hong Kong.

To facilitate public inquiry, the Monetary Authority stated that once it begins the issuance of licenses, it will publish a list of licensed stablecoin issuers on its official website. This initiative will help increase market transparency and protect the interests of investors.

With the implementation of the stablecoin regulatory system in Hong Kong, it is expected to inject new momentum into the development of financial technology in Hong Kong, while also providing valuable references for global Crypto Assets regulation. However, investors still need to remain vigilant and be cautious about potential misinformation and fraud in the market.