Hong Kong Monetary Authority: Stablecoin issuers need to "identify and block" customers from using VPNs
2025-07-31 03:55:59
According to the HKMA's guidelines for the regulation of licensed stablecoin issuers under the Stablecoin Ordinance, the HKMA requires licensed stablecoin issuers to "ensure that they do not issue or offer specified stablecoins in jurisdictions where trading in specified stablecoins is prohibited" and that "licensees should implement controls to mitigate the risk of location masking (e.g. the use of virtual private networks, or VPNs) during remote customer authentication procedures and during day-to-day operations".
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