According to Golden Finance, Hong Kong Wen Wei Po disclosed that the capital chain of Myanmar's Asia-Pacific New City is closely related to the relationship between cryptocurrencies, among which Tether (USDT) is a cryptocurrency commonly used by telescopic groups and even illegal activities around the world. Tether, the issuing company of Tether and its parent company iFinex, have been registered in Hong Kong and are closely related to Bitfinex, one of the world's largest cryptocurrency trading platforms. Hong Kong Financial Affairs and Treasury Secretary Xu Zhengyu said in an interview with radio yesterday that the SAR government will regulate the issuers of such stablecoins in the future, and will regulate two aspects, including custodians and virtual assets over-the-counter transactions. It is reported that there are two members of the board of directors of Tether, 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 has cooperated with law enforcement agencies to freeze suspected illegal funds, criminals use technical means to quickly transfer funds, and often the funds have been successfully transferred before the law enforcement agencies are frozen.