HKMA Warns Public on Misuse of Term ‘Bank’ By Crypto Firms

The Hong Kong Monetary Authority (HKMA) is warning people to be careful about the use of the word “bank” by some crypto firms. Two of these firms are not lic

ensed banks in Hong Kong, but they are pretending to be real banks. The HKMA wants people to check if these firms are really legitimate before trusting them.

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