Hong Kong Monetary Authority: Initial Hong Kong Compliance Stablecoin Holder Identity Verification Required

BlockBeats News, July 30th. According to Caixin's report, the Hong Kong Monetary Authority (HKMA) will open the first batch of stablecoin issuer license applications from August 1, 2025, to September 30, 2025. This marks the formal implementation stage of Hong Kong's stablecoin regulation. All compliant stablecoin holders in Hong Kong must have their identities verified, similar to real-name authentication, to enhance anti-money laundering and financial crime risk mitigation. Kelvin CHAN, Assistant Chief Executive of the HKMA (Regulation and Anti-Money Laundering), pointed out that this arrangement is stricter than the previous "white-list" system outlined in the Anti-Money Laundering Consultation Paper. However, in the future, if the technology matures, there may be opportunities to relax the regulations.