Scammers Goal Hong Kong Stablecoin Licences Earlier than First Tokens Go Reside

[ad_1] Fraudsters have begun selling pretend digital tokens linked to 2 newly licensed stablecoin issuers in Hong Kong, though neither agency has launched a product.

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The Hong Kong Financial Authority, HSBC, and Anchorpoint Monetary issued separate warnings on Tuesday. They mentioned tokens utilizing the tickers “HKDAP” and “HSBC” have appeared within the market however usually are not linked to the licensed entities.

The incident follows Hong Kong’s approval of its first stablecoin issuer licenses beneath the HKMA framework earlier this month, which was launched in August final yr. The regulator mentioned the approvals marked the primary beneath the regime, with Anchorpoint Monetary and HSBC among the many first two entities licensed.

No Regulated Stablecoins Issued, HKMA Says

The HKMA mentioned each issuers have confirmed that no regulated stablecoins have been issued up to now.

HSBC mentioned it “has not but issued any stablecoins in Hong Kong,” including that its deliberate Hong Kong dollar-pegged token might be distributed solely via official channels, together with PayMe and the HSBC HK Cellular App, when launched within the second half of 2026.

LATEST: 🏦 Hong Kong’s central financial institution has warned that tokens utilizing the tickers “HSBC” and “HKDAP” haven't any affiliation with HSBC or Anchorpoint Monetary. pic.twitter.com/siRtYqdQC6

— CoinMarketCap (@CoinMarketCap) April 29, 2026 Regulator Can Droop Stablecoin Issuers

Anchorpoint Monetary mentioned it has not issued any tokens since receiving its license from the HKMA on April 10 and has not launched any product beneath the HKDAP title. It urged customers to “confirm info via official sources” and use solely regulated channels.

Beneath the foundations, fiat-referenced stablecoin issuers have to be licensed by the HKMA and meet necessities on reserves, redemption rights, governance, and anti-money laundering controls. The regulator can impose fines, droop operations, or revoke licenses.