Hong Kong's regulatory guidelines for licensed stablecoins require issuers to strengthen VPN risk management

The Hong Kong Monetary Authority recently issued its "Guidelines for the Supervision of Licensed Stablecoin Issuers" (Client Account Opening and Management), requiring licensees to implement effective measures to mitigate the risk of clients using virtual private networks (VPNs) to mask their true locations during identity authentication and daily operations. Specific measures include reviewing network protocols, device configurations, and comparing VPN service provider server addresses to strengthen the detection and management of VPN usage.