HKMA encourages provision of banking service to licensed virtual asset service providers
May 2023
On 27 April 2023, the Hong Kong Monetary Authority (‘HKMA’) issued an announcement in which it encouraged banks to provide banking services to virtual asset service providers (‘VASPs’) and related entities (‘Announcement’).
In this News Flash, we will provide a summary of the Announcement and provide insights into what it means for market participants.
