Hong Kong's Wen Wei Po revealed that the capital chain of Myanmar's Asia-Pacific New Town is inextricably linked to cryptocurrencies. Among them, Tether (USDT) is a cryptocurrency commonly used by electronic fraud groups and even global illegal activities. Tether's distribution company and its parent company iFinex were both registered in Hong Kong and are closely related to Bitfinex, one of the world's largest cryptocurrency trading platforms. Hong Kong's Secretary for Financial Services and the Treasury, Hui Zhengyu, said in a radio interview yesterday that the SAR government will regulate the issuers of such stablecoins in the future, and will regulate both aspects, including custodians and virtual assets over the counter. It is reported that the board of directors of Tether in Hong Kong consists of two people, Giancarlo Devasini, the CFO of Tether, who is also one of the co-founders of Bitfinex, and 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, often before law enforcement agencies freeze them, and the funds have been successfully transferred.