According to ChainCatcher news, in response to today’s crypto KOL “Crypto Panda”’s tweet about Hong Kong’s crypto regulatory policies, Hong Kong industry lawyers responded to PANews: “This is misleading. Hong Kong people have always been able to legally trade cryptocurrencies. From June 1, Exchanges operating in Hong Kong require a license. P2P trading/OTC without custody function does not require a license, so there is no change in the legal trading part. Regarding stablecoins, the Hong Kong Monetary Authority consultation results show that they will regulate stablecoins in 2024 coin issuance (estimated). I believe this person is spreading misleading information purely for marketing purposes."

Earlier today, Crypto Panda tweeted: "On June 1, 2023, Hong Kong will officially make cryptocurrency buying, selling and trading completely legal for all citizens, and expect a large amount of big money to flow in from the East. Hong Kong will also launch a stablecoin based on Asian currencies." (Source link)