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Hong Kong warns crypto firms against referring to themselves as ?banks?

Posted on 09/16/2023

Hong Kong warns crypto firms against referring to themselves as ?banks?

Hong Kong warns crypto firms against using the word “bank” The Hong Kong Monetary Authority (HKMA) says only licensed banks can take “deposits.” Using terms such as digital bank, crypto bank and crypto asset bank contravenes the Banking Ordinance. The Hong Kong Monetary Authority (HKMA) has warned crypto firms that it’s against the law for […]

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