Hong Kong's Monetary Authority hkmagovhk has been putting pressure on StanChart, HSBC and Bank of China to take on crypto exchanges as clients, according to a report. By amitoj
to crypto exchanges. While no ban on crypto clients exists, Banks appear to be reluctant to engage with the industry for fear of legal challenges in the event of a scam.
“We have active dialogues with virtual asset players to exchange views on a range of topics, including but not limited to account opening." an HSBC spokesperson told CoinDesk."We remain very engaged on policies and developments of this nascent industry in Hong Kong.” A Standard Chartered spokesperson told CoinDesk that they have"regular dialogue with our regulators on different subjects."Standard Chartered and HSBC told FT they engaged with regulators on a regular basis on policies and developments in this industry.
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