Hong Kong authorities remind banks not to be too hasty in rejecting digital asset clients By Cointelegraph

One size does not fit all when it comes to Anti-Money Laundering (AML), the Hong Kong Monetary Authority (HKMA) reminded banks on April 27. Banks should not make it unnecessarily hard to open accounts.

There has been a wave of companies opening bank accounts in Hong Kong to take advantage of business opportunities, HKMA Deputy CEO Arthur Yuen wrote, and “comments” about the difficulties in the process have ensued. Yuen tied the increased activity to the end of the pandemic.