🚨 Hong Kong officials have reinforced that retail investors cannot trade stablecoins until they are regulated, likely in 2024. This follows the virtual asset trading platform JPEX coming under suspicion for alleged involvement in a fraud conspiracy. 🕵️‍♂️

🔒 Hong Kong's Secretary for Financial Services and the Treasury, Hui Ching-yu, addressed security concerns and emphasized the need for enhanced supervision in virtual asset trading.

📈 Despite ongoing discussions about becoming a crypto hub, retail trading of stablecoins will not be allowed until regulations are in place.

🗣️ What do you think about Hong Kong's stance on stablecoins? Share your thoughts in the comments!