Lawyer: Is USDC/USDT banned in Hong Kong? The video is sourced from Colin Wu's interview with Hong Kong senior compliance lawyer Wu Wenqian's podcast. Please do not repost it without permission, as infringement will be prosecuted. The Hong Kong stablecoin regulation officially came into effect on August 1st, but there are still many misunderstandings in the market about its regulatory scope. Lawyer Wu provided clarification on this matter. According to the regulations, only stablecoins issued in Hong Kong, or stablecoins anchored to the Hong Kong dollar and maintaining a stable value with the Hong Kong dollar, are included in the regulatory scope. Taking Tether's USDT and Circle's USDC as examples, they are neither issued in Hong Kong nor anchored in Hong Kong dollars, and the relevant entities have not established operating institutions in Hong Kong, so they are not subject to regulation under this regulation. It should be emphasized that the core of this regulation lies in regulating "issuance behavior". Therefore, currently conducting OTC trading activities of USDT and USDC in Hong Kong does not constitute a violation. Lawyer Wu also pointed out that even if a separate regulatory framework is established for OTC behavior in the future, it needs to be clearly defined in new regulations. Video source: https://www. (youtube.com)/watch? v=f9FuwSiBQQk&t=386s