Hong Kong Licensed Stable Coins Regulatory Guidelines require industry issuers to strengthen VPN risk management

PANews reported on July 31 that according to the "Guidelines for Regulatory Guidelines for Licensed Stable Coin Issuers" recently released by the Hong Kong Monetary Authority, the guidelines (customer account opening and management part) require licensees to implement effective measures to prevent the risk of customers covering up their real location through virtual private networks (VPNs) in their identity authentication and daily operations. Specific measures include reviewing network protocols, device configurations, and comparing the server addresses of VPN service providers to strengthen the detection and management of VPN usage.

Hong Kong Licensed Stable Coins Regulatory Guidelines require industry issuers to strengthen VPN risk management

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