TechFlame reports that according to the “Stablecoin Ordinance” regulatory guidelines issued by the Hong Kong Monetary Authority, the Hong Kong Monetary Authority requires licensed stablecoin issuers to “ensure that specified stablecoins are not issued or offered to be offered in jurisdictions where trading specified stablecoins are prohibited” and that “licensees should implement controls to mitigate the risk of location masking (such as the use of virtual private networks, or VPNs) during remote customer authentication procedures and during day-to-day operations”.