Half of the cryptocurrency exchange shops in Hong Kong do not require real-name registration, but purchases over HKD 120,000 in cash need to be registered

ChainCatcher news, according to a report by Wen Wei Po, reporters recently visited more than a dozen cryptocurrency exchange shops (OTC) in Hong Kong and found that Tether is the most popular among various cryptocurrencies. About half of the exchange shops allow cash to be exchanged for cryptocurrency without the need for real-name registration, and these shops currently do not need to submit transaction reports to law enforcement agencies. According to an employee of a shop that participates in KYC certification, personal information only needs to be registered for purchases of cryptocurrency with cash of HKD 120,000 or more.