Hong Kong Monetary Authority: Be wary of tokens claiming to be linked to licensed stablecoin issuers.

CoinFeed reported on April 29 that the Hong Kong Monetary Authority (HKMA) issued a notice urging the public to be vigilant regarding press releases from Idle Point Financial Technology Limited and The Hongkong and Shanghai Banking Corporation Limited (HSBC) concerning tokens claiming affiliation with licensed stablecoin issuers. Tokens using the codes "HKDAP" or "HSBC" have appeared on the market, but these tokens are not issued by and have no connection with the licensed stablecoin issuers. To date, both licensed stablecoin issuers have stated that they have not issued any regulated stablecoins on the market. The public should be alert to any fraudulent activities or scams claiming affiliation with the licensees or their issued stablecoins. In case of doubt, the public should refer to the official announcements of the two licensees. The public should also purchase or use stablecoins through regulated channels.