{"id":49218,"date":"2025-09-25T18:08:25","date_gmt":"2025-09-25T11:08:25","guid":{"rendered":"https:\/\/hbbgroup.net\/hong-kong-monetary-authority-warns-against-unregulated-stablecoin-issuance\/"},"modified":"2025-09-25T18:08:25","modified_gmt":"2025-09-25T11:08:25","slug":"hong-kong-monetary-authority-warns-against-unregulated-stablecoin-issuance","status":"publish","type":"post","link":"https:\/\/hbbgroup.net\/zh\/hong-kong-monetary-authority-warns-against-unregulated-stablecoin-issuance\/","title":{"rendered":"Hong Kong Monetary Authority Warns Against Unregulated Stablecoin Issuance"},"content":{"rendered":"
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The warning comes after AnchorX, a Hong Kong-based firm, announced a stablecoin called AxCNH, pegged to the offshore Chinese yuan.<\/h2>\n

Sep 25, 2025, 9:49\u202fa.m. <\/span><\/p>\n<\/div>\n

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The Hong Kong Monetary Authority (HKMA) warned investors it has not approved any stablecoin issuers, labeling the marketing of such products as illegal, the SCMP reports<\/a>.<\/p>\n

The statement came after Hong Kong-based AnchorX announced the introduction of AxCNH, a stablecoin pegged to the offshore Chinese yuan. The company said it held a license from Kazakhstan\u2019s Astana Financial Services Authority and that the coin would support cross-border payments and tokenized real-world assets, according to the SCMP.<\/p>\n

In a statement on its official WeChat channel, the HKMA said no entity had been licensed to issue stablecoins in the city and advised the public to remain cautious.<\/p>\n

This marks the first test of Hong Kong\u2019s new stablecoin rules, which came into effect in August<\/a>. Under the regime, stablecoin issuers must meet stringent standards around licensing, capital, and governance.<\/p>\n

The timing of the warning is notable. China\u2019s own securities regulator recently urged brokerages to pause real-world asset (RWA) tokenization activity in Hong Kong, citing risk management concerns.<\/p>\n<\/div>\n

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AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to <\/span>our standards<\/a>. For more information, see <\/span>CoinDesk’s full AI Policy<\/a>.<\/p>\n<\/div>\n

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