Deep Tide TechFlow news, on August 9, according to Caixin, during a visit to several exchange shops in Hong Kong's Admiralty and Tsim Sha Tsui that operate cryptocurrency businesses, it was found that some exchange shops have suspended the exchange of USDT, USDC with fiat currency, and some shops have even closed; however, there are some exchange shops that, although they no longer 'publicly price' the exchange of stablecoins for users, can still privately inquire about trading.
The Hong Kong Monetary Authority responded by stating that the main purpose of formulating the (stablecoin regulations) is to protect stablecoin holders by regulating the issuance and sale of fiat stablecoins (i.e., 'offer provision' under the regulations). Exchange shops in Hong Kong generally hold a Money Service Operator (MSO) license issued by the Hong Kong Customs, and this type of license is not within the scope of 'permitted providers'. Currently, virtual asset over-the-counter trading institutions do not fall under the 'permitted providers' of the (stablecoin regulations), and therefore cannot offer stablecoins to retail or professional investors, regardless of whether the stablecoin is regulated. Whether the business of individual virtual asset over-the-counter trading institutions involves offering stablecoins depends on the actual business arrangements and circumstances and cannot be generalized.

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