Hong Kong Stablecoin Regulations Impact Local Trading Market

According to Foresight News, the implementation of Hong Kong's stablecoin regulations has led to a significant decrease in the local over-the-counter trading market within the first week. Data from Bitrace indicates a 32.94% reduction in market size. The daily USDT transfer volume for store-based service providers' business addresses fell by 43.20%, dropping from 9.47 million to 5.38 million. Meanwhile, non-store service providers experienced a 30.65% decrease, with their business addresses reducing from 42.57 million to 29.52 million. These figures highlight the immediate impact of the new regulations on the stablecoin trading environment in Hong Kong.