Xu Zhengyu: Currently in Hong Kong, only "recognized providers" can provide designated stablecoins. Purchasing any unregulated stablecoin is at your own risk.

According to Coinjie.com, on September 10, according to a press release from the Hong Kong government, Hong Kong Financial Affairs and Treasury Secretary Chan Mo-po said that only "authorized providers" can provide designated stablecoins at present. He reminded the public that virtual asset over-the-counter (OTC) trading institutions are not currently “recognized providers” and therefore cannot provide designated stablecoins to retail investors or professional investors. Chan Mo-po reiterated that the Hong Kong Monetary Authority has not issued a license to any stablecoin issuer. Investors can only be protected by regulations if they purchase regulated stablecoins from designated “authorized providers.” Purchase stablecoins through unregulated channels, or any other unregulated stablecoins, at your own risk.