According to Odaily Planet Daily, the Hong Kong Monetary Authority (HKMA) has officially issued a security alert stating that the Hong Kong Stablecoin Ordinance officially came into effect today, and the regulatory regime for stablecoin issuers has also been implemented. While the regulatory regime is still in its early stages, the HKMA will adopt a "strict first, steady" approach. The HKMA specifically reminds market participants to exercise caution when communicating with the public and avoid making statements that could cause misunderstandings or create unrealistic expectations. It is illegal to falsely claim to be a licensed person or applicant. Citizens holding unregulated stablecoins do so at their own risk.