TechFlow, September 26 — According to The Standard, Sebastian Paredes, CEO of DBS Bank Hong Kong, warned that Hong Kong's new anti-money laundering (AML) and know-your-customer (KYC) regulations for stablecoins will significantly restrict the use of stablecoins in on-chain derivatives trading.
Paredes said the bank will monitor related developments but will focus on building broader stablecoin capabilities in Hong Kong. Hong Kong launched its new stablecoin regulatory framework on August 1, immediately criminalizing the promotion of unauthorized stablecoins and establishing a public registry of authorized issuers.
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