The Hong Kong Stablecoins Ordinance will officially come into effect on August 1st, prohibiting unlicensed individuals from operating stablecoin businesses in Hong Kong. Daily Economic News found that several street cryptocurrency exchange shops (OTC) in Hong Kong are still operating normally, and some staff members have not received any notification of business changes yet. At present, exchanging stablecoins such as USDT and USDC at exchange shops is still a regulatory blind spot, and in the future, it may be necessary to apply for a special license. Legislative Council member Qiu Dagen stated that after the regulation comes into effect, it is illegal for unlicensed platforms to sell USDT and USDC to retail investors, and existing stablecoins can be traded on licensed platforms. The Hong Kong SAR government is conducting a public consultation on the licensing system for over-the-counter trading services, which will end on August 29th. https://www. (wublock123.com)/index.php? m=content&c=index&a=show&catid=6&id=46484