Techub News exclusive report: According to reporters' on-site investigations, on the first day of the official implementation of the Hong Kong stablecoin regulations, some Hong Kong cryptocurrency OTC offline stores, including One Satoshi, temporarily closed due to concerns about violating regulatory requirements. However, some OTC offline stores chose to continue operating.
According to interviews with reporters, some shop operators who chose to continue operating believe that the stablecoin regulatory regulations officially implemented today are more targeted at issuers of Hong Kong dollar stablecoins issued in Hong Kong, requiring issuers to obtain licenses, but do not affect non-Hong Kong legal tender issued overseas (such as the US dollar). Therefore, OTC activities such as USDT are not within the scope of the regulations.
In addition, some interviewed OTC offline store operators also stated that they are continuously monitoring the regulatory provisions regarding OTC, and if relevant legislation is implemented, they will actively comply with the legal requirements.