Despite pressure in Hong Kong, where the cryptocurrency ecosystem is backed by the government, at least two of the traditional banks are refusing cryptocurrency-related transactions.
The Wall Street Journal (WSJ) based on the testimonies of sources familiar with the subject. 17 July In the news of at least two to work with global bank’s crypto companies that you resist conveyed.
According to the information given, the relevant banks are in cooperation with the crypto money ecosystem. directly linked to be an intermediary for any activity refused. Other banks operating in the country, especially the relevant banks some banks that the cryptocurrency ecosystem carries financial crime risk with companies operating in this field does not want to work seen. Any information on which banks are information not provided.
Hong Kong based law firm of Clifford Chance partner Rocky Muibanks’ cryptocurrencies in money laundering from the use they hesitate stated. In addition, anti-money laundering processes for crypto companies of updating also it will take time added to the comments.
from banks reject crypto companies forced into specified. It was noted that banks also resisted opening accounts that would allow cryptocurrency exchanges to hold customer funds. licensing process inside traditional to a bank account need underlined what you heard.
And also in Hong Kong operating and hundreds of employees banks directly crypto-linked funds of a company that owns refusal to accept due to working their salaries crypto assets to pay foreign currency sell it and then abroad deposited in a bank and reintroduced into the country specified.
Crypto activities in the country its development supporting Hong Kong government’s banks in this regard it encourages and in places on them put pressure on known.
Blockchain services provider fireblocks Head of Asia Stephen Richardsonthe crypto industry customer banks to accept pressure is applied but about work risk models yet under development stated that.
on the other hand some banks against crypto companies hot was also among the details given. According to the information given China Communication Banki and ZA Bank A local virtual bank called crypto companies quickly moved to serve crypto companies. In addition, resources operating in the country and previously to crypto companies distant an approaching of the global bank in money laundering prevention for crypto companies subject to basic accounts to open he evaluated specified.