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Hong Kong Regulator Warns: Stablecoin Market Frenzy Recklessly Overheated
Hong Kong Regulator Warns: Stablecoin Market Frenzy Recklessly Overheated
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Stablecoins are having a moment—maybe too much of one. Hong Kong's financial watchdog just dropped a truth bomb on the crypto hype train.
Regulators aren't impressed
The city's monetary authority called out 'excessive exuberance' in dollar-pegged tokens, suggesting the space needs a cold shower. No numbers? No problem—when regulators talk, markets listen.
Pump the brakes
While DeFi degens chase the next USDT clone, traditional finance gatekeepers are flashing warning signs. Because nothing says 'healthy market' like bureaucrats playing buzzkill.
Bottom line: Stablecoins won't stabilize your portfolio when reality bites. But hey—at least the volatility will be entertaining.
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