HSBC-Owned Hang Seng Bank Limits Crypto Companies to ‘Simple’ Accounts: Report

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Media reports from Hong Kong say licensed crypto companies are limited to 'simple' accounts at Hang Seng bank, thesamreynolds writes

from the Hong Kong Economic Journal quotes the director of commercial and customer services at HSBC-owned Hang Seng Bank as saying that while licensed crypto companies can open a bank account, they’ll only be able to get a"simple" one. The report didn't say what services were excluded from such an account.

“We have active dialogues with virtual asset players to exchange views on a range of topics, including but not limited to account opening," an HSBC spokesperson."We remain very engaged on policies and developments of this nascent industry in Hong Kong.” A spokesperson for Standard Chartered told CoinDesk in a prior interview that it has"regular dialogue" with regulators on different subjects.

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