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Hong Kong Looks to Curb Retail Stablecoin Trading Amid Crypto Adoption

Hong Kong is considering measures to restrict retail stablecoin trading for individual investors in response to the increasing adoption of cryptocurrencies, as stated by a local official. It is important to note that retail stablecoin trading is currently not permitted in Hong Kong. As reported by a local news agency, Ming Pao, clarified that the city has not yet established regulations governing the trading of stablecoins such as Tether (USDT) or USD Coin (USDC). Stablecoins, which are cryptocurrencies pegged to the value of a fiat currency like the US dollar, are frequently used by service providers as a key trading asset to mitigate market volatility.

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