Hong Kong Aims to Strengthen Regulation in OTC Crypto Trading
Hong Kong strengthens OTC crypto trading regulations amid rising interest from mainland Chinese investors. Balancing growth and risk mitigation in the evolving crypto landscape.

Hong Kong strengthens OTC crypto trading regulations amid rising interest from mainland Chinese investors. Balancing growth and risk mitigation in the evolving crypto landscape.
Tthe significance of Over-the-Counter (OTC) trading in the context of Bitcoin ETFs cannot be overstated. As it quietly powers the market giants and takes center stage in the crypto realm, understanding the nuances of OTC trading becomes imperative. Its impact, often hidden from plain sight, is a force driving the evolution of the financial landscape.
Regarding the behavior of OTC merchants making money from the price difference by buying and selling the stable currency USDT, can these currency exchanges be charged with an "illegal business crime"?
Earlier Monday, CoinDesk reported that DCG and Genesis had reached an agreement with a key group of creditors.
Genesis Trading, a crypto lender, will eliminate 60 positions, or 30% of its workforce, as it attempts to economize and stave off a bankruptcy filing.
The Hong Kong-based company was once Asia’s largest bitcoin ATM player.
The aftermath of the crypto winter is yet to be over.
Ignite CEO Peng Zhong, MicroStrategy CEO Michael Saylor, and now Genesis Trading CEO Michael Moro — top executives have departed crypto firms or stepped into advisory positions.
Genesis Trading held on after confirming its 3AC exposure, while parent company Digital Currency Group took some responsibility after losses.
Genesis Trading soldiers on after confirming 3AC exposure, while parent company Digital Currency Group assumes a portion of liability after losses.