Hong Kong is encouraging major financial institutions to accept crypto clients, with the Hong Kong Monetary Authority pressuring them to do so. The government is also laying down a red carpet to boost the special administrative region’s Web3 industry, with politicians inviting global virtual asset exchanges to come to Hong Kong and apply for a compliant exchange. Meanwhile, Bank of China’s investment banking subsidiary, BOCI, has tokenised 200 million Chinese yuan ($28m) in digitally structured notes on the Ethereum blockchain, the first such move by a Chinese financial institution in Hong Kong.
