Hong Kong media: The company that issued Tether was once registered in Hong Kong
ChainCatcher news, Hong Kong Wen Wei Po disclosed that the funding chain of Myanmar Asia Pacific New City is closely related to cryptocurrency, among which Tether (USDT) is a commonly used cryptocurrency by scam groups and even for illegal activities globally. The issuing company of Tether, Tether, and its parent company iFinex, were both registered in Hong Kong and are closely related to Bitfinex, one of the largest cryptocurrency trading platforms in the world. The Secretary for Financial Services and the Treasury, Christopher Hui, stated in a radio interview yesterday that the SAR government will regulate the issuers of such stablecoins in the future, focusing on two aspects: custodians and over-the-counter trading of virtual assets.It is reported that there are two board members of Tether in Hong Kong, namely Tether's CFO Giancarlo Devasini, who is also one of the co-founders of Bitfinex; the other is JL van der Velde, the former CEO of Tether and the current CEO of Bitfinex. Although Tether cooperates with law enforcement agencies to freeze suspected illegal funds, criminals often use technical means to quickly transfer funds, and by the time law enforcement agencies can freeze them, the funds have already been successfully transferred.