Hong Kong regulators are reportedly hosting a meeting between crypto firms and bankers to share practical experience in opening accounts.
The Hong Kong Monetary Authority (HKMA) and the Securities and Futures Commission (SFC) are hosting a roundtable on April 28 at the former’s office for crypto firms and bankers, according to a «Bloomberg» report citing event details that have not been made public.
The meeting will look to «facilitate direct dialogue» and «share practical experiences and perspectives in opening and maintaining bank accounts».
Hong Kong is seeking to realize its ambitions of becoming a crypto hub, amid pullbacks in markets elsewhere, such as the US. The policy tailwinds have led to an increasing number of crypto firms shifting their regional base to the city. State-owned lenders are also reportedly looking to provide banking services to such firms but have been grappling with challenges related to opening accounts and know-your-client (KYC) standards.
