TechFlow news, August 13 — According to Hong Kong media Ming Pao, in a recent interview, Circle Tech's CEO Liu Yu revealed that strict stablecoin regulation is inevitable. The current market's "ERC-3643" token standard possesses strong regulatory characteristics, such as requirements for identity verification and permission controls, which could serve as a compliant operational method for potential issuers, financial institutions, and virtual asset service providers (VASPs) under existing regulatory frameworks.
It is reported that Circle Tech's website already displays "Hong Kong Dollar Stablecoin HKDR (Coming Soon)" with a dedicated page introducing HKDR. Regarding this, Liu Yu stated the company will fully push forward and is confident in ultimately obtaining the license.
