Is Hong Kong determined to create the best environment for Cryptocurrencies?

Hong Kong's banking regulator has asked lenders operating in the region to try to meet the business needs of licensed cryptocurrency exchanges. The targeted banks are HSBC, Standard Chartered and the Bank of China. The Hong Kong Monetary Authority (HKMA) said diligence on potential clients should not "create undue burden", especially for those setting up an office in Hong Kong. The regulator has been pressuring banks to accept crypto clients as part of its bid to emerge as a global crypto hub.