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【Hong Kong 'Stablecoin Regulations' Cause Chaos After Implementation: Some Exchange Shops Conduct 'Unlicensed' Transactions of USDT in Secret, Can Regulatory Red Lines Stop Them?】
On August 9th, Caixin reported that Hong Kong's 'Stablecoin Regulations' officially took effect on August 1st, with a licensing system blocking 'wild paths' outside five types of licenses — from now on, unlicensed exchange shops can no longer openly trade USDT and USDC!
Journalists found that some shops (like 'One Bitcoin' and '5X Crypto') have obediently ceased operations, while others ('BitsMark') have simply shut down. However, strangely, shops like 'Crypto Panda' and 'Star Coin', although they no longer display prices publicly, can still 'inquire about prices and trade' privately! Is this operation a defiance against the law or a loophole exploitation? Can the regulatory stick really close all loopholes? What do you think!
