China Poly Group issued a statement to deny any ties with Hong Kong stablecoin ventures on October 25, 2025. They emphasized their subsidiaries have no connection to similarly named firms and urged the public to report suspicious activities.
Despite the announcement, there were minimal reactions in the crypto market, particularly with ETH and BTC showing stability. The Hong Kong Monetary Authority (HKMA) reiterated the necessity for licensing, highlighting their oversight in preventing unlicensed activities.
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