Hong Kong rules limit stablecoin derivative trading: DBS CEO
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DBS Hong Kong CEO Sebastian Paredes warned that Hong Kong’s new stablecoin KYC and AML rules will largely block their use in onchain derivatives trading.
Hong Kong’s stablecoin regulatory framework limits their use for derivative trading on blockchain networks, according to Sebastian Paredes, CEO of DBS Hong Kong.
According to a Friday report by local news outlet The Standard, Paredes said that Hong Kong regulations on stablecoin Anti-Money Laundering (AML) and Know Your Customer (KYC) requirements will significantly restrict their use for onchain derivatives trading. He said the bank will monitor developments but focus instead on building broader stablecoin capabilities in Hong Kong.
The comments follow the rollout of Hong Kong’s new stablecoin rules on Aug. 1. The rules immediately criminalized the promotion of unlicensed stablecoins and established a public registry of authorized issuers.
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すべての暗号通貨、NFT、DeFiを1か所から管理開始に使用しているポートフォリオを安全に接続します。