Hong Kong govt pressures banking giants to simply accept crypto shoppers: Report

The Hong Kong Financial Authority (HKMA), which serves because the area’s central financial institution and regulator, has reportedly put strain on main banks, together with HSBC and Customary Chartered (OTC:), to simply accept crypto exchanges as shoppers.

Based on a June 15 report from the Monetary Occasions, which cited three sources conversant in the matter, the HKMA questioned the U.Ok.-based corporations in addition to the Financial institution of China in a Might assembly — asking the establishments why they weren’t taking over cryptocurrency exchanges as shoppers.

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