‼️‼️Hong Kong’s Stablecoin Regulations Trigger Sharp Drop in Local Trading‼️‼️
Recent data from Foresight News reveals that #HongKong ’s introduction of #stablecoin regulations caused a sharp decline in the local over-the-counter trading market within just one week.
Bitrace reports a 32.94% drop in market size.
Daily USDT transfer volumes for store-based service providers decreased by 43.20%, falling from 9.47 million to 5.38 million. Non-store providers also saw a 30.65% decline, with business addresses shrinking from 42.57 million to 29.52 million.
These numbers show the immediate consequences the new rules are having on Hong Kong’s stablecoin trading landscape.