🚨 BREAKING: 🇭🇰 Hong Kong Govt Pressures Banking Giants to Accept #Crypto Clients 🚀
HSBC, Standard Chartered, and Bank of China under Fire 🔥
A thread 🧵
HSBC, Standard Chartered, and Bank of China under Fire 🔥
A thread 🧵
1️⃣ Incredible! Hong Kong's central bank is pushing major banks to embrace #crypto exchanges as clients.
2️⃣ Just last month, the Hong Kong Monetary Authority (HKMA) issued a circular, urging banks to be more open to the #crypto market.
👉 Now they're asking why banks like HSBC and Standard Chartered aren't accepting crypto exchanges.
👉 Now they're asking why banks like HSBC and Standard Chartered aren't accepting crypto exchanges.
3️⃣ The HKMA wants to support #crypto firms, also known as "virtual asset service providers," by granting them access to banking services.
👉 But some senior executives at traditional banks are hesitant.
👉 But some senior executives at traditional banks are hesitant.
5️⃣ But not everyone is on board with the #crypto revolution.
👉 Resistance from traditional bankers is real.
👉 Resistance from traditional bankers is real.
6️⃣ Hong Kong Legislative Council member Johnny Ng openly supports Coinbase and even invites them to set up shop in Hong Kong.
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