Hong Kong Monetary Authority: Currently no offshore RMB stablecoin is issued in Hong Kong

Odaily Planet Daily reports that the Hong Kong Monetary Authority (HKMA) has issued a warning on its official account regarding recent social media reports that the world's first stablecoin pegged to the offshore RMB has been issued in Hong Kong. Please note that this information is false. The Stablecoins Ordinance will officially come into effect on August 1, 2025. Anyone who issues a fiat stablecoin in the course of their business in Hong Kong, or actively promotes such an issuance to the Hong Kong public, will need to obtain a stablecoin issuer license from the HKMA. Currently, the HKMA has not issued any stablecoin issuer licenses. Therefore, anyone who issues or promotes a stablecoin is breaking the law. If you are approached with offers to promote a stablecoin, please remain vigilant. The HKMA will monitor stablecoin transactions in the market and, if any suspected violations of the Stablecoins Ordinance are identified, will consider taking further action based on the relevant facts and evidence.