#美联储重启降息步伐 $ZEC $LUNC $ETH

A bombshell just dropped in Hong Kong’s financial sector—seven associations jointly issued a “Risk Alert on Preventing Illegal Activities Involving Virtual Currencies and the Like,” and this time, USDT was specifically called out.

To be honest, it’s a bit sudden but not unexpected. Just look at how aggressively the digital yuan has been promoted in the past couple of years—the authorities’ desire to control finance is getting stronger. USDT has been operating in a gray area for a long time, powering cross-border transfers and OTC trades, and regulators have been displeased for a while. As a financial center, it’s not surprising that Hong Kong is taking the lead this time.

The notice specifically emphasizes “illegal fundraising, scams, and pyramid schemes under the guise of virtual currencies.” That’s pretty clear—not only are retail crypto traders being watched, but also those project teams running scams under the blockchain banner. Word is, some OTC vendors have already started pulling out, some wallet transfers are slowing down, and the market atmosphere has definitely gotten tense.

But that said, is USDT really done for? I don’t think so. Tighter regulation is the trend, but demand for stablecoins remains—it’s just that the game plan has to change. Those used to using USDT for cross-border asset allocation will now have to find new ways. Some say this is a crackdown, while others think it’s just the beginning of a reshuffle.

Either way, the wind has shifted. Where things go from here, the market will decide.