PANews, August 12 - According to Bitrace monitoring, after the Hong Kong stablecoin regulations took effect on August 1, the local over-the-counter trading market size decreased by 32.94% within a week. The average daily transfer volume of USDT from merchant addresses decreased by 43.20%, while from non-merchant addresses it decreased by 30.65%. Some practitioners have turned to applying for licenses, while others have shifted to underground trading.