HSBC, Standard Chartered pressured by HKMA to take on crypto clients, FT says

The Hong Kong Monetary Authority, HKMA, Hong Kong’s banking regulator, is pressuring lenders, including HSCB (HSBC) and Standard Chartered (SCBFF), to take on crypto exchanges as clients, Kaye Wiggins, Eleanor Olcott, William Langley, and Chan Ho-him of The Financial Times report. At a meeting last month, the banking regulator questioned the lenders and Bank of China why they were not accepting crypto exchanges as clients, three people with knowledge of the matter said. “HKMA encouraged the banks to not be afraid,” a person with knowledge of the discussion said.