Core Viewpoint - The Hong Kong Stablecoin Regulation will take effect on August 1, prohibiting unlicensed stablecoin operations in the region, raising questions about the future of stablecoins like USDT and USDC in Hong Kong [1][4]. Group 1: Current Operations of Crypto Exchange Shops - Crypto exchange shops in Hong Kong, such as "One Bitcoin" and "Fangbei," continue to operate normally ahead of the regulation's implementation, with limited customer traffic observed [2][3]. - The shops offer services for exchanging fiat currency for various cryptocurrencies, including USDT and USDC, with transaction fees varying based on the method of purchase [3][4]. - Staff at these shops expressed uncertainty about the impact of the new regulation on their operations, indicating they had not received official notifications regarding changes [3][4]. Group 2: Regulatory Environment and Future Implications - The Hong Kong government is welcoming licensed virtual asset trading platforms, and any unlicensed sale of USDT and USDC to retail customers will be deemed illegal post-regulation [4][6]. - The government is considering establishing a licensing regime for virtual asset OTC services, as current operations remain largely unregulated [6][7]. - A significant number of physical virtual asset OTC shops and digital platforms are currently operating in Hong Kong, with some providing services to mainland residents [5][6].
《稳定币条例》生效在即,街边“找换店”还能兑换加密货币吗?
Mei Ri Jing Ji Xin Wen·2025-07-30 22:57