07:29
A Hong Kong man was scammed while exchanging 1 million HKD in cash for USDT, and a lawmaker calls for stronger regulation of Virtual Money.
According to Gate.io News bot, a report from Dongwang stated that a man from Hong Kong brought 1 million HKD in cash to an unlicensed Virtual Money exchange shop on Hung To Road in Kwun Tong to exchange for USDT. After receiving the cash, the store claimed that the remittance had been completed and left the scene, but in reality, no transfer operation was conducted.
Legislative Council member Wu Jiezhuang stated that there are currently over 200 unlicensed exchange shops operating in Hong Kong. He urged the government to promptly initiate relevant consultations and legislative procedures to strengthen the regulation of Virtual Money transactions.
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