Hong Kong Licensed Stablecoin Regulatory Guidelines Require Issuers to Strengthen VPN Risk Management

On July 31 (UTC+8), according to the "Guideline on the Regulation of Licensed Stablecoin Issuers" recently released by the Hong Kong Monetary Authority, the guideline (Customer Account Opening and Management Section) requires licensees to implement effective measures to prevent customers from concealing the risk of their true location through virtual private networks (VPNs) in identity authentication and daily operations. Specific measures include reviewing network protocols, device configurations, and comparing VPN service provider server addresses to strengthen the detection and management of VPN usage. [Source: PANews] [MetaEra]