Regarding the issue of mainland residents trading cryptocurrencies in Hong Kong, here are a few points:
Operational Logic:
Hong Kong allows licensed exchanges to operate, but mainland residents buying and selling USDT directly with RMB still falls into a gray area.
Finding licensed exchange shops offline to trade USDT with Hong Kong dollars in cash is compliant (must not involve RMB).
If you want to use a Hong Kong bank card for transfers, you need to ensure that the fund flow is completely separated from mainland accounts.
Risk Reminder:
Hong Kong exchange shops generally have low spreads (usually 0.03-0.04 HKD/USDT), so profit margins are limited.
For large transactions (such as several million daily), offline stores will drive prices down even more.
The most critical point is that the source of USDT must be clean (cannot be funds exchanged from mainland).
Real Suggestion:
This arbitrage model has long been mastered by professional institutions; ordinary people can neither benefit from the price differences nor withstand regulatory scrutiny. If you really want to operate compliantly, it’s better to directly open a company in Hong Kong and apply for a financial license, but the cost starts at a million. Ordinary people should just play with a little pocket money and not make it their main business.