The new regulations for stablecoins in Hong Kong will take effect, and some exchange shops will suspend USDT and USDC exchange services.

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On August 9, according to reports from Block Rhythm, the Hong Kong "Stablecoin Regulation" will take effect on August 1, 2025. In addition to introducing a licensing system for issuers, the regulation clearly states that unless they hold one of the five types of licenses, permitted offerors will not be allowed to conduct offers of stablecoins in Hong Kong. In other words, exchanges that previously operated USDT and USDC stablecoin exchange businesses in Hong Kong will have to suspend these operations.

During a visit, reporters found that some exchange shops represented by "one Bitcoin" and "5X Crypto" have suspended the exchange of USDT, USDC, and fiat currency; some exchange shops like "BitsMark" have even closed down; however, some exchange shops like "Crypto Panda" and "Star Coin" no longer openly quote prices for users to exchange related stablecoins, but private inquiries for pricing and transactions are still possible.

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GasOptimizervip
· 5h ago
Another wave of 65% market share arbitrage opportunity has arrived... call me!
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PaperHandSistervip
· 08-09 03:24
Damn, these bosses' businesses are being regulated again.
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LiquidationWatchervip
· 08-09 03:24
Why is it so difficult to apply for a license!!!
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AlwaysAnonvip
· 08-09 03:23
Why does this taste so familiar? Singapore is starting now.
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tokenomics_truthervip
· 08-09 03:21
The Hong Kong dollar is playing tricks again.
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FloorSweepervip
· 08-09 03:15
paper hands leaving hk... more alpha for us tbh
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