DBS Bank Hong Kong CEO: Hong Kong's stablecoin regulatory rules will limit its use in on-chain derivatives trading

Sebastian Paredes, CEO of DBS Bank Hong Kong, said that Hong Kong's anti-money laundering (AML) and know-your-customer (KYC) regulations on stablecoins will severely restrict their use in on-chain derivatives trading. He said the bank will monitor relevant developments but will focus on building broader stablecoin service capabilities in Hong Kong.