On August 1st, according to a Techub reporter's on-site report, on the first day of the official implementation of Hong Kong's stablecoin regulations, some cryptocurrency OTC offline stores, including One Satoshi, temporarily suspended operations due to concerns about violating regulatory requirements. However, some OTC offline stores chose to continue operating. Some store operators who chose to continue operating believe that OTC activities involving stablecoins issued overseas (such as USDT) are not within the scope of the regulation.
According to the spirit of Hong Kong's common law, if there are no clear precedents determining that stablecoin OTC activities are illegal, OTC businesses may still be able to continue operating.
