DBS Bank: Hong Kong Stablecoin Regulation to Restrict Stablecoin Usage in On-chain Derivatives

BlockBeats News, September 26, according to Cointelegraph, the CEO of DBS Bank Hong Kong stated that Hong Kong's new stablecoin anti-money laundering (AML) and know your customer (KYC) regulations will restrict the use of stablecoins in on-chain derivative transactions. Hong Kong introduced a new stablecoin regulatory framework on August 1, defining the promotion of unlicensed stablecoins as a crime and establishing a public register of authorized issuers.