Wu Jiezhuang: The specific plan for Hong Kong's stablecoin KYC rules will be proposed by the stablecoin issuer and will only need to be approved by the HKMA.

Hong Kong Legislative Council member Ng Kit-chung stated that the Hong Kong Monetary Authority will indeed implement KYC rules, but the specific implementation method has not yet been finalized, and real-name registration is only one method. Ng emphasized that the specific plan will be submitted to the HKMA by the stablecoin issuer, and then approved by the HKMA.