🏦 HKMA Updates Digital Banking Regulations 🚀

According to Odaily, the Hong Kong Monetary Authority (HKMA) has presented new documents for the Legislative Council’s Financial Affairs Panel briefing. These documents follow a consultation summary from October 14, 2024, and include:

📄 Revised Guidelines: New standards for recognizing digital banks, with adjustments for risk-based and technology-neutral principles that better fit digital bank models.

🔄 Regulatory Framework: Digital banks must follow similar regulations to traditional banks, with some adjustments to align with their unique structures.

🏛️ As of the latest update on October 25, 2024, Hong Kong has eight registered digital banks:

1. Livi Bank Limited

2. Ant Bank (Hong Kong) Limited

3. Fusion Bank Limited

4. WeLab Bank Limited

5. Mox Bank Limited

6. PAO Bank Limited

7. Airstar Bank Limited

8. ZA Bank Limited

#BTCReboundsAfterFOMC #EthereumPectraUpgrade #CryptoPreUSElection #NFPWatch #16thBTCWhitePaperAnniv