(Bloomberg) — Dotted across Hong Kong are small shops that convert between cash and crypto with few questions asked, a modern-day echo of the city’s freewheeling past. Soon, many may shut under a looming crackdown. HT Image Officials estimate 450 shops, automated teller machines and websites in Hong Kong offer such services. They are a key slice of over-the-counter or OTC crypto trades, which accounted for the bulk of the $64 billion in digital assets that flowed through the city in the year through June, according to Chainalysis. Hindustan Times – your fastest source for breaking news! Read now. Some crypto shops are suspected of facilitating banned activity, for instance Chinese n
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