Hong Kong Monetary Authority: Stablecoin issuers need to "identify and block" customers from using VPNs

The Hong Kong Monetary Authority (HKMA) has issued the "Stablecoin Regulations" regulatory guidelines for licensed stablecoin issuers. Among them, it requires licensed stablecoin issuers to "ensure that specified stablecoins are not issued or offered in jurisdictions that prohibit trading in specified stablecoins," and that "licensees should implement control measures to mitigate the risks of location masking (e.g., using virtual private networks, i.e., VPNs) in remote customer identification procedures and during daily operations." [Foresight News]