According to Deep Tide TechFlow news on August 13, Hong Kong media Ming Pao reported that Liu Yu, CEO of Yuan Coin Technology, revealed in a recent interview that strict regulations on stablecoins are inevitable. Currently, the 'ERC-3643' token standard possesses strong regulatory attributes, such as identity verification and licensing restrictions, which may become a method for potential issuers, financial institutions, and virtual asset service providers (VASP) to operate in compliance under the current regulatory framework.
According to reports, the Yuan Coin Technology website has displayed 'Hong Kong Dollar Stablecoin HKDR (coming soon)' and has a dedicated page introducing HKDR. In this regard, Liu Yu stated that the company will make every effort to promote it and is confident that it will eventually succeed in obtaining a license.
