Odaily Planet Daily News 🌟 The Hong Kong Monetary Authority recently issued an important reminder, calling on citizens to be vigilant and pay attention to overseas crypto asset institutions that are not licensed banks in Hong Kong. When these institutions are active in Hong Kong, they may use the word "bank" to mislead consumers and violate the Banking Ordinance. 💼

The HKMA pointed out that two overseas crypto asset institutions have been active in Hong Kong recently, one of which calls itself a "bank" and the other describes its products as "bank cards" on its website. These actions may cause consumers to mistakenly believe that these institutions are regulated by the HKMA. 🔍

The HKMA emphasized that crypto asset institutions that are not recognized by Hong Kong are not regulated by it, and citizens need to carefully distinguish and avoid mistrust. 🔒