📢 Gate Square Exclusive: #WXTM Creative Contest# Is Now Live!
Celebrate CandyDrop Round 59 featuring MinoTari (WXTM) — compete for a 70,000 WXTM prize pool!
🎯 About MinoTari (WXTM)
Tari is a Rust-based blockchain protocol centered around digital assets.
It empowers creators to build new types of digital experiences and narratives.
With Tari, digitally scarce assets—like collectibles or in-game items—unlock new business opportunities for creators.
🎨 Event Period:
Aug 7, 2025, 09:00 – Aug 12, 2025, 16:00 (UTC)
📌 How to Participate:
Post original content on Gate Square related to WXTM or its
Recently, the stablecoin regulatory framework introduced in Hong Kong has sparked widespread discussion within the industry. Through in-depth research, we can clarify some key points.
It is worth noting that dollar-based stablecoins, such as USDC, USDT, and USD1, do not require a special license in Hong Kong. This means that the use of these stablecoins in Hong Kong will be relatively free. However, whether users can exchange these stablecoins for Hong Kong dollars is governed by over-the-counter (OTC) license regulations and is not within the scope of the stablecoin regulations.
For other cryptocurrencies, to be listed and traded on licensed exchanges in Hong Kong, two main conditions must be met: firstly, they must comply with the stringent standards set by the Hong Kong Securities and Futures Commission (SFC); secondly, they need to appear in the investable indices of at least two major independent investment firms. In addition to this, each exchange has its own review standards and policies.
The new regulations by the SFC that came into effect on June 1, 2023, set additional requirements for tokens that retail investors can trade. These tokens must have at least 12 months of compliance records and must not have been subject to any criminal charges during this period.
It is worth mentioning that Hong Kong and Singapore have adopted similar strategies in this regard. The variety of virtual currencies listed on licensed exchanges in both places is relatively limited. For retail investors who wish to trade a wider range of cryptocurrencies, they may need to turn to offshore exchanges or decentralized exchanges (DEX). However, the threshold for coins on these platforms is lower, requiring no government review, only needing to meet the standards of the exchanges themselves, thus the investment risk also increases accordingly.
Overall, Hong Kong's new regulations reflect the efforts of regulators to seek a balance between promoting innovation and protecting investors. How these policies will affect Hong Kong's cryptocurrency ecosystem remains to be seen.