Hong Kong is still dedicated to developing into a centre for digital assets. A meeting between cryptocurrency companies and bankers is scheduled to be held by the special administrative region's regulators as a further move in that direction. The same aims to make funding easier for the cryptocurrency industry.
The meeting will be held at the Hong Kong Monetary Authority on April 28, according to a recent Bloomberg article. By "direct communication" and the exchange of "practical experiences and opinions," this program aims to make creating and keeping bank accounts easier. Interestingly, the HKMA and the Securities and Futures Commission will host the session simultaneously.
China is apparently supporting Hong Kong's plans to become a crypto center. Officials from China's Liaison Office have been "regular attendees" at crypto meetings in Hong Kong. Moreover, their interactions have been "pleasant." Also, officials have been monitoring developments, requesting updates, and even calling in the wake of events.
According to a Bloomberg article, some businesses found it challenging to sign up for banking-related services as a result of the recent failure of a number of U.S. institutions that supported cryptocurrencies. Yet, one encouraging finding is allegedly "increasing interest of Chinese state-owned lenders in the industry." This is quite unusual because China has called for a ban on cryptocurrency trading in 2021. In reality, the majority of crypto-related activities are still illegal there as of right now.
SFC and HKMA spokespeople withheld any new information. They are reportedly "maintaining talks with stakeholders."
This news is republished from https://coinaquarium.io/
