Hong Kong's regulatory guidelines for licensed stablecoins require issuers to strengthen VPN risk management

PANews reported on July 31st that the Hong Kong Monetary Authority recently issued the "Guidelines for the Supervision of Licensed Stablecoin Issuers." The guidelines (including the section on customer account opening and management) require licensed issuers to implement effective measures to mitigate the risk of customers using virtual private networks (VPNs) to disguise their true locations during 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.