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Wu Jie, the market maker, explained that "the identity of Hong Kong compliant stablecoin holders must be real-name verified": The Monetary Authority will implement KYC rules, but the specific plan will be submitted by the stablecoin issuer.
According to BlockBeats news, on July 30, Wu Jiezhang explained that "the identity of holders of compliant stablecoins in Hong Kong must be real-name verified." He stated that the Hong Kong Monetary Authority will indeed implement KYC rules, but the specific implementation methods have not yet been fully determined, and real-name verification is just one of the methods. Wu Jiezhang emphasized that the specific plan will be submitted by stablecoin issuers to the Monetary Authority, and then it must be satisfactory and approved by the Monetary Authority. In addition, compared to cash, the KYC rules related to stablecoins will be stricter. (Techub News)