Xu Zhengyu: Currently, only "approved providers" in Hong Kong can offer to provide specified stablecoins. You must take your own risk by purchasing any non-regulated stablecoins.

PANews reported on September 10 that according to the Hong Kong Government News Gazette, Hong Kong Financial Affairs and Treasury Secretary Xu Zhengyu said that only "approved providers" can offer to provide specified stablecoins, reminding Volkswagen virtual asset over-the-counter trading institutions that are not currently "approved providers", so they cannot offer specified stablecoins to retail or professional investors. Xu Zhengyu reiterated that the Hong Kong Monetary Authority has not issued a license to any stablecoin issuer, and investors will only be protected by the regulations if they purchase regulated stablecoins from specified "approved providers". If you purchase stablecoins through unregulated channels or any unregulated stablecoins, you must take your own risk.