The U.S. crypto industry is still reeling from last week’s Securities and Exchange Commission lawsuits against Binance and Coinbase, but in Hong Kong, its banking regulator is pressuring banks to accept crypto exchanges as clients.
Some traditional banks have been wary of adding crypto exchanges as clients, especially considering FTX’s failure last year and the recent regulatory actions in the U.S. But the Hong Kong Monetary Authority has recently questioned several banks about not accepting crypto clients, and tried to make it clear they shouldn’t be afraid, the Financial Times reported on Wednesday.
