Mars Finance News: A man sought to exchange 1 million Hong Kong dollars in cash for USDT at an offline OTC store in Hong Kong. The store ultimately took the cash but did not remit the funds to the owner. The matter has been reported to law enforcement. Hong Kong Legislative Council member Wu Jiazhuang stated that "this incident is rampant" and noted that there are currently over 200 such virtual currency exchange stores in Hong Kong, all of which are unlicensed and not protected or regulated by any Hong Kong laws. Anyone can open a shop with a business registration. He urged the Hong Kong government to quickly launch relevant consultations and legislative procedures. (Eastern Net)
A man was blackmailed for HK$1 million in cash by a money exchange shop when he exchanged USDT offline. Currently, more than 200 similar shops in Hong Kong are not licensed.
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