Hong Kong central bank warns against crypto firms using banking terms

by Aurelia Butler 17 September 2023, 23:40 189 Views

In a press release, the HKMA said that using certain banking terms may be misleading the public, causing users to think that the crypto firms are authorized banks in Hong Kong. However, the central bank highlighted that under the region’s banking laws, only licensed institutions are allowed to carry out banking or deposit-taking businesses in Hong Kong.

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Source: Cryptocurrency - investing.com

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Hong Kong central bank warns against crypto firms using banking terms

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