Hang Seng Bank Limits Crypto Firm’s Account Opening in HK!

The post Hang Seng Bank Limits Crypto Firm’s Account Opening in HK! appeared first on Coinpedia Fintech News

Hang Seng Bank of Hong Kong has announced that cryptocurrency companies will be able to open basic accounts only after they have received the approval-in-principle (AIP) license from the Hong Kong Securities and Futures Commission (SFC). Currently, only OSL and Hashkey have acquired the necessary license, which has become a prerequisite for cryptocurrency companies seeking to engage in banking services in the city state. The development has been welcomed by digital currency investors and proponents in the region, who see it as a positive step towards the mainstream adoption of cryptocurrencies.