Hong Kong media: Tether's issuing company was once registered in Hong Kong

According to Mars Finance news, the South China Morning Post revealed that the capital chain of Yangon New City in Myanmar is closely related to cryptocurrencies, among which Tether (USDT) is a cryptocurrency commonly used by fraud groups and even global illegal activities. Tether's issuing company Tether and its parent company iFinex were both registered in Hong Kong and are closely related to Bitfinex, one of the world's largest cryptocurrency trading platforms. The Secretary for Financial Services and the Treasury of Hong Kong, Christopher Hui, stated in a radio interview yesterday that the government will regulate the issuers of such stablecoins in the future, and will regulate in two aspects, including custodians and over-the-counter virtual asset transactions. It is reported that the board members of Hong Kong Tether company include two people, one of whom is Giancarlo Devasini, the CFO of Tether, who is also one of the co-founders of Bitfinex; the other is JL van der Velde, the former CEO of Tether and the current CEO of Bitfinex. Although Tether company cooperates with law enforcement agencies to freeze funds suspected of being illegal, criminal elements often quickly transfer funds using technical means, and the funds have been successfully transferred before law enforcement agencies can freeze them.