HSBC Changes Crypto Policy, Now Bars Clients From Buying Stock of Companies T...
HSBC has reportedly changed its policy regarding cryptocurrency. The bank now prohibits customers from buying the stock of public companies that hold bitcoin, like Microstrategy. All of the companies with bitcoin treasuries could be on the chopping block at HSBC. HSBC Now Bars Clients From Buying Crypto and Crypto-Related Stocks Like Microstrategy British bank HSBC has reportedly become more strict with its crypto policy. The bank now prohibits its customers from buying the stock of public companies that are holding bitcoin in its treasury. An HSBC customer has shared a message he said he....
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HSBC has confirmed its bitcoin and cryptocurrency stance as a growing number of major banks are beginning to offer crypto services. CEO Noel Quinn says that HSBC views bitcoin as an asset class rather than a payments vehicle but the bank is not rushing into providing cryptocurrency investments for clients. HSBC Confirms Crypto Stance HSBC CEO Noel Quinn said that the bank “has no plans to launch a cryptocurrency trading desk” or offer cryptocurrencies as investments to customers, Reuters reported Monday. Quinn was quoted as saying: “Given the volatility we are not into....
The investment banking giant now reportedly classifies MicroStrategy as a “virtual currency product.” Buying MicroStrategy stock is reportedly no longer possible for HSBC customers on the bank’s online trading platform — HSBC InvestDirect, or HIDC.According to a supposed message from the bank to its customers, HSBC has directed users that already own MicroStrategy stock not to buy additional shares.Twitter user Camiam claimed to have received such a message from the banking giant on March 29:Hey @michael_saylor , you may want to ask your legal team if what @HSBC_CA is doing here is legal.....
Once known as a skeptical institution of crypto, HSBC originally announced its first major move into metaverse in mid-March. Global banking giant HSBC Holdings has rolled out its metaverse investment product for wealthy clients in Singapore and Hong Kong, according to multiple media reports.Called Metaverse Discretionary Strategy portfolio, the new product is managed by HSBC’s asset management arm, HSBC Asset Management. The fund aims to provide high net worth professional investors and accredited investor clients with exposure to new investment opportunities in the metaverse....
Banking giant HSBC will not be offering crypto services, according to CEO Noel Quinn. Noting that HSBC is more negative on crypto than other banks, the executive stressed: “I do worry about the sustainability of the valuations of crypto.”
HSBC Will Not Get Into Crypto, CEO Says
The chief executive of HSBC, Noel Quinn, talked about his bank’s cryptocurrency stance in an interview with CNBC-TV18 last week. He confirmed:
As a bank, we’re not getting into the crypto world, crypto trading, crypto exchanges.
Emphasizing that cryptocurrencies are....
The Clinton foundation received US$81m in funds from clients of the HSBC bank in 2015. Whether or not this was another attempt to launder money through the bank’s accounts, is anybody’s guess at this time. It needs no explanation the financial ecosystem as we know it is being attacked from all angles. That is only made possible because they have been doing some dirty things behind the scenes. Albeit the HSBC bank should have been prosecuted back in 2012 for money laundering, the DOJ decided not to. After all, it would cause “global financial disaster”. So are banks absolved from any....