Fraudsters have begunpromoting fake digital tokens linked to two newly licensed stablecoin issuersin Hong Kong, even though neither firm has launched a product.SingaporeSummit: Meet the largest APAC brokers you know (and those you still don't!).The Hong Kong MonetaryAuthority, HSBC, and Anchorpoint Financial issued separate warnings on Tuesday.They said tokens using the tickers “HKDAP” and “HSBC” have appeared in themarket but are not connected to the licensed entities.The incident follows HongKong’s approval of its first stablecoin issuer licenses under the HKMAframework earlier this month, which was introduced in August last year. Theregulator said the approvals marked the first under the regime, withAnchorpoint Financial and HSBC among the first two entities licensed.No RegulatedStablecoins Issued, HKMA SaysThe HKMA said bothissuers have confirmed that no regulated stablecoins have been issued to date.HSBC said it “has notyet issued any stablecoins in Hong Kong,” adding that its planned Hong Kongdollar-pegged token will be distributed only through official channels,including PayMe and the HSBC HK Mobile App, when launched in the second half of2026.LATEST: 🏦 Hong Kong’s central bank has warned that tokens using the tickers “HSBC” and “HKDAP” have no association with HSBC or Anchorpoint Financial. pic.twitter.com/siRtYqdQC6— CoinMarketCap (@CoinMarketCap) April 29, 2026Regulator Can Suspend Stablecoin IssuersAnchorpoint Financialsaid it has not issued any tokens since receiving its license from the HKMA onApril 10 and has not launched any product under the HKDAP name. It urged usersto “verify information through official sources” and use only regulated channels.Under the rules,fiat-referenced stablecoin issuers must be licensed by the HKMA and meetrequirements on reserves, redemption rights, governance, and anti-moneylaundering controls. The regulator can impose fines, suspend operations, orrevoke licenses.This article was written by Tareq Sikder at www.financemagnates.com.