
The Securities and Futures Commission, in conjunction with the Hong Kong Monetary Authority, noted abrupt market movements in companies associated with stablecoin licensing interest, which often followed media reports, social-media speculation or corporate announcements about potential stablecoin issuer licences.
Regulators emphasised that early discussions or plans to apply for a licence are not endorsements nor guarantees of approval, stressing that only entities meeting stringent regulatory criteria will ultimately be licensed under the framework that came into force on August first this year.
Officials voiced concern that some listed companies have seen sharp share price swings — including speculative upticks — merely by asserting stablecoin ambitions, a trend that could mislead less experienced investors amid heightened hype.
The SFC has reported a notable volume of digital asset-related fraud complaints this year, and has vowed to closely monitor trading activity, deploy advanced surveillance tools and take decisive action against manipulative or deceptive practices that could compromise market integrity.
As Hong Kong positions itself as an Asia-focused hub for regulated stablecoin issuance, regulators have amplified their call for well-informed investment decisions and continued vigilance as the sector evolves.
















