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🔥🔥 Mainland China: Comprehensive ban, taking real action!
The authorities have made it clear: stablecoins are considered illegal financial activities! Not only are they banned, but criminal liability is now being pursued. Over 300 cases have already been investigated this year, and 4.6 billion in funds have been intercepted. This move is clearly paving the way for the digital yuan.
🔥🔥 Hong Kong: Big regulatory changes, retail investors out!
New regulations have taken effect in Hong Kong. Since the issuer Tether didn’t get a license, ordinary retail investors can no longer trade USDT; it’s only open to professional investors. Hong Kong is using high entry barriers to filter for compliant institutions, aiming to use stablecoins in real-world applications like cross-border trade and tourism consumption.