On the first day of the Hong Kong Stablecoin Regulation Ordinance coming into effect, some OTC stores have temporarily closed due to unclear regulations.

By: theblockbeats.news|2025/08/01 19:32:17

0

Share

copy

BlockBeats News, August 1st, according to a report by Techub, on the first day of the official implementation of the Hong Kong stablecoin regulations, some Hong Kong cryptocurrency OTC offline stores, including One Satoshi, temporarily closed due to concerns about violating regulatory requirements. However, some OTC offline stores chose to continue operating. The operators of some stores that chose to remain open believe that OTC activities involving non-Hong Kong legal tender issued overseas (such as USDT) are not within the regulatory scope of the regulations.

Based on the spirit of Hong Kong's common law, if there is no clear precedent establishing stablecoin OTC activities as illegal, OTC businesses may still be able to continue operating.

-- Price

You may also like

Why Are GPU Prices Skyrocketing Out of Control?

Why Are GPU Prices Skyrocketing Out of Control?

Compute Power is Being Preemptively Locked In as AI Drives GPUs into a Prolonged Supply Crunch Cycle

How to Master Claude Cowork Completely?

How to Master Claude Cowork Completely?

A System to Let AI Start Working for You Instead of Chatting With You

70-Page Confidential Letter Alleges First Charge of 'Lying,' Altman Tells Board 'I Can't Change My Personality'

70-Page Confidential Letter Alleges First Charge of 'Lying,' Altman Tells Board 'I Can't Change My Personality'

I feel the weight of this responsibility every day

Is Altcoin Season Starting in 2026? What Traders Should Watch Now

Is Altcoin Season Starting in 2026? What Traders Should Watch Now

Altcoin season signals are becoming clearer in 2026 as capital rotation across crypto markets accelerates. Here’s what traders should watch and how strategy-based participation is evolving in the current market cycle.

Bitcoin ETF Inflows in 2026: Impact on BTC Price and Crypto Market Trends

Bitcoin ETF Inflows in 2026: Impact on BTC Price and Crypto Market Trends

Bitcoin ETF inflows are reshaping BTC price trends and crypto market liquidity in 2026. See how institutional capital is influencing volatility, trading behavior, and portfolio allocation strategies across crypto markets.

Visa's Stablecoin Strategy: Cards, Settlement, and the Future

Visa's Stablecoin Strategy: Cards, Settlement, and the Future

At that time, the team no longer viewed cryptocurrency as a "card product," but began to see stablecoins as a real solution capable of addressing real-world problems.

Stock Market Split

Stock Market Split

The financial industry continues to evolve and develop as always, and will adopt any structure that can narrow the gap between the occurrence of events and the expression of opinions in prices.

How to capture the next Alpha in the narrative of predictive markets?

How to capture the next Alpha in the narrative of predictive markets?

The prediction market is by no means a new casino in the cryptocurrency world, but rather a pricing engine for "event assets" that fills a 400-year gap in financial history: an article that reveals how it will reshape the logic of wealth in the next decade.

"Legal" Ponzi scheme? Unveiling the circular lending of Gemini exchange and its founder

"Legal" Ponzi scheme? Unveiling the circular lending of Gemini exchange and its founder

Internal related-party transactions and financial black holes have triggered a crisis of trust, and the valuation logic has completely collapsed in the secondary market.

The first stock of stablecoins, Circle, has officially launched the new public chain ARC points system, and the interactive guide is here

The first stock of stablecoins, Circle, has officially launched the new public chain ARC points system, and the interactive guide is here

Arc is an internal project of Circle. Although it has not publicly raised funds, Circle Ventures launched the Arc Builders Fund (amount undisclosed) to attract investments from over 30 top VC networks in ecological projects.

Oil prices are approaching a critical point. What will happen in mid-April?

Oil prices are approaching a critical point. What will happen in mid-April?

Time becomes the deciding factor, and the oil market will take three paths.

The oil price is approaching a critical point, what will happen in mid-April?

The oil price is approaching a critical point, what will happen in mid-April?

Time Becomes a Determining Factor as the Oil Market Takes Three Paths

Mechanism drives value, deflation leads the future: MIAU will officially launch on PancakeSwap on April 13

Mechanism drives value, deflation leads the future: MIAU will officially launch on PancakeSwap on April 13

MIAU provides a new value paradigm for the industry with its threefold advantages of "FunPlusWeb3 trendy IP ecosystem + mechanism consensus + relative deflation."

Zhou Hang, the founder of Yidao Yongche: Cryptocurrency has finally arrived at its time to shine

Zhou Hang, the founder of Yidao Yongche: Cryptocurrency has finally arrived at its time to shine

Cryptocurrency has not failed; it has simply targeted the wrong users over the past decade.

Who else cannot be distilled into skill?

Who else cannot be distilled into skill?

Token Hundred Thousand Slaughter Yama

Who else cannot be distilled into skill?

Who else cannot be distilled into skill?

Token Yama of Decimation

The huge shock in the South Korean cryptocurrency market: How should traders view it?

The huge shock in the South Korean cryptocurrency market: How should traders view it?

As the contradiction between the institutional capital inflow brought by the new government's "pro-crypto" policy and the tightening of retail infrastructure intensifies, this structural "information asymmetry" in the Korean market will persist for a long time, continuously giving rise to fleeting e...

From "Kimchi Premium" to Bithumb's Rectification: An Interpretation of the Current Situation in the South Korean Crypto Market

From "Kimchi Premium" to Bithumb's Rectification: An Interpretation of the Current Situation in the South Korean Crypto Market

Market structure or information gap? — Why does the South Korean crypto market often make global traders "lag behind."

Why Are GPU Prices Skyrocketing Out of Control?

Compute Power is Being Preemptively Locked In as AI Drives GPUs into a Prolonged Supply Crunch Cycle

How to Master Claude Cowork Completely?

A System to Let AI Start Working for You Instead of Chatting With You

70-Page Confidential Letter Alleges First Charge of 'Lying,' Altman Tells Board 'I Can't Change My Personality'

I feel the weight of this responsibility every day

Is Altcoin Season Starting in 2026? What Traders Should Watch Now

Altcoin season signals are becoming clearer in 2026 as capital rotation across crypto markets accelerates. Here’s what traders should watch and how strategy-based participation is evolving in the current market cycle.

Bitcoin ETF Inflows in 2026: Impact on BTC Price and Crypto Market Trends

Bitcoin ETF inflows are reshaping BTC price trends and crypto market liquidity in 2026. See how institutional capital is influencing volatility, trading behavior, and portfolio allocation strategies across crypto markets.

Visa's Stablecoin Strategy: Cards, Settlement, and the Future

At that time, the team no longer viewed cryptocurrency as a "card product," but began to see stablecoins as a real solution capable of addressing real-world problems.

Popular coins

Latest Crypto News

00:42

Bloomberg: Binance's compliance team undergoes personnel changes, Chief Compliance Officer may resign

According to Bloomberg, there have been personnel changes in Binance's compliance team, involving key positions related to financial crime monitoring and sanctions compliance. Its Chief Compliance Officer Noah Perlman is currently discussing future departure matters with management and may leave thi...

00:42

A U.S. court ruled that New Jersey has no authority to restrict Kalshi sports prediction contracts

According to The Block, the U.S. Third Circuit Court of Appeals ruled that Kalshi's provision of sports-related event contracts in New Jersey is not subject to state gambling regulations, confirming the priority of federal oversight.The court ruled 2-1 that trading on designated contract markets (DC...

00:42

Data: In the past 24 hours, the total liquidation across the network was 299 million USD, with long positions liquidated at 41.7232 million USD and short positions liquidated at 257 million USD

According to Coinglass data, in the past 24 hours, the total liquidation across the network was $299 million, with long positions liquidated at $41.72 million and short positions liquidated at $257 million. Among them, Bitcoin long positions were liquidated at $6.07 million, Bitcoin short positions ...

23:42

Caixin: Multiple loan assistance platforms see a decline in lending scale and profits in Q4, with some seeking investment in the "crypto circle" and other second growth curves

According to Caixin, with the official implementation of new regulations on loan assistance and the slowdown in consumer credit demand, multiple consumer loan assistance platforms showed a consistent trend in the fourth quarter of 2025: revenue and loan issuance scale declined year-on-year, and net ...

23:42

Strategy Q1 Bitcoin has an unrealized loss of nearly 14.5 billion dollars, with tax credits partially offsetting the losses

According to The Block, based on the 8-K document submitted by Strategy to the U.S. Securities and Exchange Commission, the company reported an unrealized loss of approximately $14.46 billion in Bitcoin for the first quarter of 2026. However, the related tax implications resulted in approximately $2...