Chinese Banks Contacted Bitcoin Companies!

China’s past years Bitcoin(BTC) And cryptocurrencyBans on cryptocurrencies directed crypto companies to other countries.

One of these countries is undoubtedly a moderate approach to cryptocurrencies. Hong Kong it happened.

BloombergChinese banks have started providing direct services to crypto companies relocating to Hong Kong.

People familiar with the matter told Bloomberg that Bank of Communications, Bank of China and Shanghai Pudong Development Bank have begun offering direct banking services to local crypto companies in Hong Kong.

The sources also stated that sales representatives at a Chinese bank visited the office of a crypto company to offer their banking services.

Again, a senior official from the Hong Kong branch of a large Chinese bank stated that he wanted to reveal his name and said:

“Banks contacting crypto companies is considered a green light from Beijing.

Investors in the region also welcome this approach by Chinese banks.”

The fact that Chinese banks are negotiating with and providing services to companies in Hong Kong has been interpreted as some slackening on the crypto ban in China.

As known Hong Kong made regulatory moves towards the crypto money sector in the country.
In this context, Hong Kong’s announcement that it will allow individual investors to trade crypto in the country was welcomed.

Apart from this move, the Hong Kong Securities and Futures Commission (SFC) announced earlier this summer that they are preparing for a new licensing system for cryptocurrency exchanges.