Caixin: The Hong Kong Monetary Authority stated that due to the ongoing monitoring tools or solutions currently used in the industry, the authorities are not fully satisfied that it can effectively control money laundering and financial crime risks. Therefore, the identity of each Hong Kong compliant stablecoin holder must be verified in the initial stage. All holders within the compliant stablecoin ecosystem in Hong Kong have undergone identity verification, which to some extent can be understood as Hong Kong stablecoin holders temporarily adopting a real name system. Chen Jinghong, Assistant Chief Executive (Regulation and Anti Money Laundering) of the Hong Kong Monetary Authority, stated that verifying the identity of each compliant stablecoin holder in Hong Kong is more stringent than the requirements in the previous consultation document on anti money laundering regulatory guidelines. However, in the future, if monitoring technology advances or the licensee satisfies the Monetary Authority that their measures can effectively reduce the risk of stablecoins in circulation, the authorities will be open to adjusting regulatory arrangements. https://finance. (caixin.com)/2025-07-29/102346497.html? utm_