{"id":1947812,"date":"2023-06-15T07:35:03","date_gmt":"2023-06-15T11:35:03","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/hong-kong-reiterates-banks-should-support-licensed-crypto-exchanges\/"},"modified":"2023-06-15T07:39:07","modified_gmt":"2023-06-15T11:39:07","slug":"hong-kong-reiterates-banks-should-support-licensed-crypto-exchanges","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/hong-kong-reiterates-banks-should-support-licensed-crypto-exchanges\/","title":{"rendered":"Hong Kong emphasizes banks must back licensed crypto exchanges."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">18<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fhong-kong-reiterates-banks-should-support-licensed-crypto-exchanges%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1947812&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div class=\"entry-content\">\n<p>(Reuters) -Hong Kong\u2019s banking regulator said on Thursday it had, in April, asked lenders operating in the region to try and meet the business needs of licensed crypto exchanges, responding to a report saying banks were under pressure to take such exchanges on as clients.<\/p>\n<p>The Hong Kong Monetary Authority\u2019s (HKMA) comments were in response to a Financial Times report which said lenders including HSBC and Standard Chartered were facing pressure from Hong Kong\u2019s central bank to take on crypto exchanges as clients.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\" style=\"min-width: 320px; min-height: 50px;  text-align: center;\">  \t<script>  \t\tgoogletag.cmd.push(function() { googletag.display('div-gpt-ad-1663871513696-art-1'); });  \t<\/script>  <\/div>\n<div class=\"ad-slot__ad-label\">Advertisement<\/div>\n<\/p>\n<p>In its bid to emerge as a global crypto hub, Hong Kong has been pulling out all stops, from courting mainland China crypto firms to floating plans of testing a digital dollar in its mortgage market.<\/p>\n<p>The UK-based lenders, and the Bank of China were questioned by the Hong Kong Monetary Authority last month on why crypto exchanges were not being accepted as clients, the report added.<\/p>\n<p>The HKMA, in a letter to lenders on April 27, said diligence on potential customers should not \u201ccreate undue burden\u201d, especially \u201cfor those setting up an office in Hong Kong.\u201d<\/p>\n<p>Standard Chartered said it was in regular dialogue with regulators on different subjects, while HSBC said that it remained engaged on policies and developments in Hong Kong\u2019s nascent crypto industry.<\/p>\n<p>Hong Kong\u2019s push for banks to accept crypto clients comes at a time when countries such as the U.S. are doubling down on crypto exchanges, with the U.S. affiliate of Binance halting dollar deposits last week after the Securities and Exchange Commission asked a court to freeze its assets.<\/p>\n<p> (Reporting by Rahat Sandhu, Nilutpal Timsina and Kanjyik Ghosh in Bengaluru; Additional reporting by Rishabh Jaiswal in Bengaluru; Editing by Rashmi Aich, Sherry Jacob-Phillips and Nivedita Bhattacharjee)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/hong-kong-reiterates-banks\/attachment\/an-attendant-walks-outside-the-entrance-to-hong-kong-monetary\/\"><\/a><\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/hong-kong-reiterates-banks\/attachment\/a-chinese-national-flag-flies-in-front-of-hsbc-headquarters\/\"><\/a><\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/hong-kong-reiterates-banks\/attachment\/a-logo-of-standard-chartered-is-displayed-at-its-main\/\"><\/a><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>20 Republicans save Adam Schiff from reimbursing taxpayers.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>On Tuesday, 45th President Trump visited a restaurant in Miami after his arraignment. CNN aired the moments with anchor Jake Tapper saying \u2018I don\u2019t need to see any more of that.\u201d <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>There have been weeks of controversy surrounding the Los Angeles Dodgers decision to honor the Sisters of Perpetual Indulgence, the self-described \u201cqueer and <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/christian-groups-call-out-l-a-dodgers-for-blasphemy-holds-opposing-event\/\" title=\"Christian groups criticize L.A. Dodgers for blasphemy, plan counter event.\">trans-nuns\u201d group<\/a>.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>A school board in southern California, Temecula Valley fires its superintendent, Jodi McClay amid controversy surrounding the board\u2019s decision to pull curriculum discussing Harvey Milk \u2013 the first <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/petition-demands-netflix-cancel-possible-colton-underwood-series-over-stalking-allegations\/\" title=\"Petition Demands Netflix Cancel Possible Colton Underwood Series Over Stalking Allegations\">openly gay man<\/a> to be elected to public office in California.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>(Reuters) -Hong Kong\u2019s banking regulator said on Thursday it had, in April, asked lenders operating in the region to try and meet\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>By Foo Yun Chee BRUSSELS (Reuters) -EU antitrust regulators are checking whether French media conglomerate Vivendi closed its acquisition of French publisher\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>By John Revill and Fanny Potkin SINGAPORE\/ZURICH (Reuters) -Siemens will spend 2 billion euros ($2.2 billion) on a new <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/factbox-wall-street-banks-expect-fed-to-hike-rates-in-july\/\" title=\"Wall Street banks anticipate Fed rate hike in July.\">global investment plan<\/a>,\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>ZURICH (Reuters) \u2013 Bain Capital Private Equity has made an offer for SoftwareOne which values the Swiss software management company at 2.9\u2026 <\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>to a report claiming that banks were being pressured to accept licensed crypto exchanges as clients. In April, the HKMA requested lenders in Hong Kong to accommodate the business requirements of these exchanges. The banking regulator aims to address the growing demand for crypto services while ensuring compliance with regulations.<\/p>\n","protected":false},"author":66,"featured_media":1947813,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[542],"tags":[8961,6987,17227,12326,7926,7930,18498],"class_list":["post-1947812","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oann","tag-banks","tag-crypto","tag-emphasizes","tag-exchanges","tag-hong","tag-kong","tag-licensed"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1947812","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1947812"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1947812\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1947813"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1947812"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1947812"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1947812"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}