Mr_强
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Big things are coming
🔥 Two sensational events regarding cryptocurrency in Hong Kong 🔥
The first event
Hong Kong has delisted USDT
The second event
Hong Kong allows insurance companies to invest in cryptocurrency
Let's talk about the delisting of USDT event‼️:
In the past few days, many people have been saying that Hong Kong has delisted USDT, and even claimed that stablecoins have been completely banned in Hong Kong. This statement is not accurate; more precisely, it is the unlicensed USDT exchange channels that are being cleaned up, not that USDT is prohibited.
The background is that on August 1st of this year, the regulations related to stablecoins in Hong Kong officially took effect. The new rules clearly state that any institution involved in stablecoin exchange and custody transactions must hold a license issued by the Hong Kong regulatory authority. The problem is that in the past, many street exchange shops in Wan Chai and Tsim Sha Tsui used traditional currency exchange licenses, which are no longer applicable for USDT and other stablecoin businesses under the new regulations.
The first event
Hong Kong has delisted USDT
The second event
Hong Kong allows insurance companies to invest in cryptocurrency
Let's talk about the delisting of USDT event‼️:
In the past few days, many people have been saying that Hong Kong has delisted USDT, and even claimed that stablecoins have been completely banned in Hong Kong. This statement is not accurate; more precisely, it is the unlicensed USDT exchange channels that are being cleaned up, not that USDT is prohibited.
The background is that on August 1st of this year, the regulations related to stablecoins in Hong Kong officially took effect. The new rules clearly state that any institution involved in stablecoin exchange and custody transactions must hold a license issued by the Hong Kong regulatory authority. The problem is that in the past, many street exchange shops in Wan Chai and Tsim Sha Tsui used traditional currency exchange licenses, which are no longer applicable for USDT and other stablecoin businesses under the new regulations.
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