Hong Kong regulators are reportedly planning a second meeting in under two months to push banks to offer services to crypto firms in the city.
Hong Kong regulators have called for a meeting on the coming Monday to address the continued challenges faced by crypto firms in opening bank accounts in the city, according to a «Bloomberg» report citing unnamed sources.
Banks, crypto platforms and other industry participants will be gathered with a focus on catering to those that were not present at the last meeting in April. In the same month, the Hong Kong Monetary Authority also issued a circular urging banks to support regulated virtual asset businesses with their need for bank accounts.
Local financial watchdogs continued to push for greater banking acceptance of crypto firms following the launch of Hong Kong’s new virtual asset licensing regime on June 1. In addition to stringent know-your-customer and anti-money laundering rules, the crypto industry is also facing regulatory and legal pressures in the US.
