Hong Kong Doubles Effort to Help Crypto Firms Get Legit Banking
- Regulators hold second meeting to boost access to banking
- Hong Kong’s crypto ambitions face a number of challenges
Hong Kong this month rolled out a new licensing regime to cover crypto exchanges, but banking access, a talent shortage and the crisis roiling the industry is hampering the city’s ambitions.
Photographer: Paul Yeung/BloombergThis article is for subscribers only.
Hong Kong regulators are planning a second meeting in less than two months to push banks to offer services to virtual-asset firms as the city seeks to become an international crypto hub.
The top financial regulators have called a meeting on Monday to bring together banks, crypto platforms and other industry participants, according to people familiar with the matter who asked not to be named discussing a private matter.