OTC crypto shops flood Hong Kong, but regulations may impact their presence By Cointelegraph

Hong Kong, some of the important and main monetary facilities on this planet, has performed a big function within the improvement of cryptocurrencies. For example, the Chinese language territory has birthed a number of the most established and profitable crypto corporations thus far together with the crypto derivatives alternate FTX, together with the digital asset platform Crypto.com.

But, as trillions of {dollars} are traded commonly by means of crypto exchanges based in Hong Kong, the “Vertical Metropolis” additionally accommodates an abundance of bodily over-the-counter crypto outlets as nicely. Henri Arslanian, PwC crypto lead and former chairman of the Fintech Affiliation of Hong Kong, informed Cointelegraph that the variety of conventional OTC crypto brokers in Hong Kong actually stands out. “These are actually brick and mortar shops for the retail public,” he stated.