"Countdown to the death of Hong Kong OTC: A year of cold winter for license legislation, and the secret battle of trillions of funds begins" ——When the money exchange shop on Temple Street put up a blockchain sign, the regulatory sickle is already hanging over its head
The Central Secret Room at 2am
Zhang took a deep puff of his e-cigarette, and the blue light of his screen reflected the 23 mobile phones on the table. This former mobile phone dealer in Sham Shui Po now manages HK$2 billion of USDT over-the-counter transactions every month. The latest news popped up in his Telegram group: "The new regulations of the Hong Kong Securities and Futures Commission require OTC licenses, with a 12-month transition period."
Fingers trembled on the "clearance" button, and the ashtray was filled with burnt Marlboros.
This secret room hidden in a tenement building may be witnessing the last era of the Hong Kong virtual asset world.
The trillion-dollar world under the license sickle