Hong Kong Monetary Authority: Currently no offshore stablecoins are issued in Hong Kong. Beware of fake news.

The Hong Kong Monetary Authority (HKMA) has issued a warning regarding recent social media reports that the world's first stablecoin pegged to the offshore renminbi has been issued in Hong Kong. Please note that these reports are false. The Stablecoin Ordinance will come into effect on August 1, 2025. Anyone who issues a fiat-denominated stablecoin in the course of their business in Hong Kong, or actively promotes such issuance to the Hong Kong public, will need to obtain a Stablecoin Issuer License from the HKMA.