Sebastian Paredes cautions that new AML and KYC regulations in Hong Kong will restrict stablecoin usage in on-chain derivatives markets, while DBS continues to monitor the situation.
Sebastian Paredes, CEO of DBS Hong Kong, expressed concerns that Hong Kong’s new KYC and AML regulations on stablecoins will limit their use in on-chain derivatives trading. He noted that DBS would continue to monitor the regulatory changes while expanding its stablecoin services in Hong Kong.