Kenneth Ng explains "Hong Kong compliant stablecoin holders must be identified with their real names": The HKMA will implement KYC rules, but the specific plan will be submitted by the stablecoin issuer.

On July 30, Wu Jiezhuang explained the "Hong Kong compliant stablecoin holders need to be identified with their real names." He said that the Hong Kong Monetary Authority will indeed implement KYC rules, but the specific implementation methods have not been fully determined, and real-name authentication is only one of the methods. Wu Jiezhuang emphasized that the specific plan will be submitted by the stablecoin issuer to the Hong Kong Monetary Authority, and then it can be approved with the satisfaction of the Hong Kong Monetary Authority. In addition, the KYC rules related to stablecoins will be stricter than cash. (Techub News) [BlockBeats]