According to a report from Deep Tide TechFlow on August 2, the Hong Kong Monetary Authority (HKMA) officially released a safety advisory warning against fraudulent licensed stablecoin scams. The Hong Kong Stablecoin Ordinance has officially come into effect, and the regulatory system for stablecoin issuers has also begun implementation. The regulatory system is still in its early stages, with a policy approach that emphasizes strictness and stability. As the regulatory system takes effect, market participants should exercise caution in public communications to avoid making statements that could lead to misunderstandings or unrealistic expectations. Under the Stablecoin Ordinance, falsely claiming to be a licensee or applicant is illegal. To date, the HKMA has not issued any stablecoin issuer licenses, and the public should be wary of any claims of being regulated or licensed stablecoins or stablecoin issuers in Hong Kong. After licenses are issued, the HKMA will upload the list of licensed stablecoin issuers to its official website.