📢 Exclusive on Gate Square — #PROVE Creative Contest# is Now Live!
CandyDrop × Succinct (PROVE) — Trade to share 200,000 PROVE 👉 https://www.gate.com/announcements/article/46469
Futures Lucky Draw Challenge: Guaranteed 1 PROVE Airdrop per User 👉 https://www.gate.com/announcements/article/46491
🎁 Endless creativity · Rewards keep coming — Post to share 300 PROVE!
📅 Event PeriodAugust 12, 2025, 04:00 – August 17, 2025, 16:00 UTC
📌 How to Participate
1.Publish original content on Gate Square related to PROVE or the above activities (minimum 100 words; any format: analysis, tutorial, creativ
The new regulations for stablecoins in Hong Kong will take effect, and some exchange shops will suspend USDT and USDC exchange services.
On August 9, according to reports from Block Rhythm, the Hong Kong "Stablecoin Regulation" will take effect on August 1, 2025. In addition to introducing a licensing system for issuers, the regulation clearly states that unless they hold one of the five types of licenses, permitted offerors will not be allowed to conduct offers of stablecoins in Hong Kong. In other words, exchanges that previously operated USDT and USDC stablecoin exchange businesses in Hong Kong will have to suspend these operations.
During a visit, reporters found that some exchange shops represented by "one Bitcoin" and "5X Crypto" have suspended the exchange of USDT, USDC, and fiat currency; some exchange shops like "BitsMark" have even closed down; however, some exchange shops like "Crypto Panda" and "Star Coin" no longer openly quote prices for users to exchange related stablecoins, but private inquiries for pricing and transactions are still possible.