Hong Kong govt pressures banking giants to accept crypto clients: Report By Cointelegraph
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The Hong Kong Monetary Authority (HKMA), which serves as the region’s central bank and regulator, has reportedly put pressure on major banks, including HSBC and Standard Chartered (OTC:), to accept crypto exchanges as clients.
According to a June 15 report from the Financial Times, which cited three sources familiar with the matter, the HKMA questioned the U.K.-based firms as well as the Bank of China in a May meeting — asking the institutions why they weren’t taking on cryptocurrency exchanges as clients.
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The Hong Kong Monetary Authority (HKMA), which serves as the region’s central bank and regulator, has reportedly put pressure on major banks, including HSBC and Standard Chartered (OTC:), to accept crypto exchanges as clients.
According to a June 15 report from the Financial Times, which cited three sources familiar with the matter, the HKMA questioned the U.K.-based firms as well as the Bank of China in a May meeting — asking the institutions why they weren’t taking on cryptocurrency exchanges as clients.
Continue Reading on Coin Telegraph
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