Hong Kong’s HKMA and SFC warned investors against speculative hype around stablecoin licensing

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Hong Kong’s top financial regulators have warned investors to exercise restraint amid a flurry of speculation surrounding stablecoin licensing and the expansion of cryptocurrency exchange-traded funds (ETFs) in the city. In a joint statement on Thursday, the Hong Kong Monetary Authority ( HKMA ) and the Securities and Futures Commission (SFC) said they had observed “abrupt market movements” linked to the stablecoin sector in recent days. The volatility, they said, appeared to follow “corporate a...