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HKMA, SFC to hold joint meeting with crypto firms, bankers

In an effort to bolster Hong Kong's position as a hub for virtual assets, the Hong Kong Monetary Authority (HKMA) and the Securities and Futures Commission (SFC) will jointly host a round table meeting between crypto firms and bankers. The meeting, which will take place on April 28 at the HKMA office, aims to facilitate direct dialogue and the sharing of practical experiences and perspectives on opening and maintaining bank accounts. The two regulators are responsible for overseeing stablecoins and crypto exchanges. However, a recent string of collapses among US crypto-friendly banks has made it more challenging for some firms to find banking services. Despite this, there has been a recent glimmer of hope, as some state-owned Chinese lenders have shown interest in the sector, which has surprised the industry given China's ban on most crypto-related activities.


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