Hong Kong Curbs Stablecoin Buzz by Requiring IDs for Every Holder—Industry Grapples with Privacy Cost
Yesterday, Hong Kong Investor pools and crypto firms found themselves navigating through simplifying complexities as the region enforced a new rule that demands know-your-customer (KYC) checks for every stablecoin holder—without exception. In theory, this could track tens of thousands—or even millions—of digital users interacting with stablecoins, potentially compromising anonymity and raising compliance burdens across the…