# Hong Kong's monetary authority issued a regulatory alert this week.

*fintech · news · 2026-05-03 · CryptoSlate*

## Key points

- Fake stablecoins using trusted brands like HSBC appeared before any licensed products launched in Hong Kong.
- The HKMA confirmed neither HSBC nor Anchorpoint has released stablecoins, exposing a new type of scam risk.
- A critical vulnerability exists during the gap between licensing announcements and actual stablecoin launches.
- Hong Kong’s regulatory credibility is at risk, as scammers leverage public trust in established financial brands.
- Authentication infrastructure for bank-issued stablecoins must be prioritized ahead of public product launches.

**Companies:** HSBC, Standard Chartered, Anchorpoint Financial, Animoca Brands
**Countries:** Hong Kong

[Read the full story on CryptoSlate](https://cryptoslate.com/fake-hsbc-bank-stablecoins-hit-the-market-showcasing-dangerous-new-crypto-scam-wave/)

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