As long as it's not dirty money, it can be freely exchanged anywhere.

A virtual asset exchange shop in Tsim Sha Tsui, Hong Kong, is doing a booming business, and most of its customers are from the mainland. Cash can be exchanged for USDT, or vice versa, digital currency can be exchanged for Hong Kong dollars and US dollars. However, for transactions exceeding 10,000 Hong Kong dollars, you have to show your ID card.
​Hong Kong is relatively relaxed about virtual currency, which has attracted many mainland customers. But USDT cannot be played on regular exchanges. You have to exchange it for Bitcoin, Ethereum, etc. before you can play with it. It's a bit like buying vegetables in a detour. It takes a little effort, but you can always buy it.
​The cash limit for cashing back to the mainland from Hong Kong is 20,000 RMB. If it is a bank transfer, the source and purpose of the funds must be clearly stated and must comply with regulations. This is like if you buy a big item abroad and send it home, you have to declare it and pay taxes, and you can't be sneaky.
​So, this virtual currency transaction in Hong Kong seems free, but it actually has hidden tricks. The rules are there. If you want to play, you have to follow the rules. This is not a joke.
​$COW $USUAL $ENA