Original author: Gyro Finance

Original source: Gyro Finance

If you observe carefully, you can find that there are many crypto exchange shops scattered on the streets of Hong Kong.

In the store, users can freely exchange cash and cryptocurrency without identity verification or KYC, that is, without asking any questions. According to on-site visits, a single exchange store could exchange up to 1 million Hong Kong dollars at a time last year. The redeemer only needs to reserve a phone number or email address. Compared with the high handling fees of Hong Kong Digital Exchange, the exchange rate of exchange shops is undoubtedly more cost-effective and convenient. From a certain perspective, this reflects the characteristics of Hong Kong’s financial freedom, but it also triggers concerns among some industry insiders about anti-money laundering.