Hong Kong Doubles Effort to Help Crypto Firms Get Legit Banking

(Bloomberg) -- Hong Kong regulators are planning a second meeting in less than two months to push banks to offer services to virtual-asset firms as the city seeks to become an international crypto hub.Most Read from BloombergSocial Security Benefits Targeted for Cuts by House ConservativesStock Rally Is Deepening Beyond AI-Fueled Craze: Markets WrapBiggest Losers of AI Boom Are Knowledge Workers, McKinsey SaysA Goldman Partner’s Sexually Explicit Video Led to Millions in SettlementUS Submarine D

• 2023-06-16
• Bloomberg Hong Kong Monetary Authority financial regulators Hong Kong banking services

Hong Kong Regulator Reminds Local Banks There Is No Ban on Crypto Firms

Crypto companies have complained that opening bank accounts in the jurisdiction is difficult.

• 2023-04-28
• Hong Kong Hong Kong Monetary Authority virtual asset banking services opening bank accounts account opening

Banks Step Up to Serve Crypto Firms After Signature, Silvergate Blowups

As crypto companies have scrambled to establish new bank relationships, industry executives say they have received a positive reception from some regional banks.

• 2023-03-27
• Signature Bank banking services banking business Silvergate industry executives regional banks Cross River Bank bank relationships

Chinese Banks Court Crypto Firms in Hong Kong After Mainland Ban

(Bloomberg) -- Crypto firms rushing into Hong Kong after the city opened its doors to the battered sector are finding a surprising source of potential support: China’s state-owned banks.Most Read from BloombergFirst Citizens Nears Deal to Buy Silicon Valley Bank, Sources SayBond Traders Go All-In on US Recession Bets That Defy Fed ViewPutin Ups the Ante With Nukes in BelarusGreenland Solves the Daylight Saving Time DebateChinese banks have been directly reaching out to crypto businesses over the

• 2023-03-27
• Hong Kong Signature Bank Bank of China bank account Shanghai Pudong Development Bank Bloomberg News Chinese bank banking services digital asset bank accounts Bloomberg

Stop Blaming Crypto for Traditional Finance Failures

After the recent collapse of three banks – Silicon Valley Bank, Silvergate Bank and Signature Bank – many pointed fingers at crypto as the cause. But crypto may actually be the solution, not the problem.

• 2023-03-16
• Silicon Valley Bank blockchain technology financial institutions banking services Signature Bank

Crypto bank Silvergate is winding down, becoming another domino in the FTX collapse

After nearly 10 years of serving the crypto industry, Silvergate Bank has been broken by the FTX collapse and its subsequent fallout. Citing “recent industry and regulatory developments,” the embattled bank announced March 8 it is winding down operations.

• 2023-03-09
• Silvergate Bank Silvergate Exchange Network regulatory developments banking services FTX