A Lawyer’s Visit to Hong Kong’s Crypto OTC Shops: Key observations include: (1) USDT's dominance as the primary medium for OTC transactions, (2) the industrialized nature of OTC operations with extensive behind-the-scenes networks, (3) Hong Kong's coexistence of crypto regulation and gray zones, and (4) varying KYC/AML standards across shops. The piece highlights how crypto has become embedded in real-world commerce, serving both speculative and practical needs like cross-border trade. Read more