{"id":74036,"date":"2023-02-13T17:40:50","date_gmt":"2023-02-13T15:40:50","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=74036"},"modified":"2025-09-09T17:49:37","modified_gmt":"2025-09-09T14:49:37","slug":"dbs-bank-to-offer-cryptocurrency-services-in-hong-kong","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/dbs-bank-to-offer-cryptocurrency-services-in-hong-kong\/","title":{"rendered":"DBS Bank to offer cryptocurrency services in Hong Kong"},"content":{"rendered":"<p>Singapore&#8217;s largest bank DBS Bank plans to apply for a licence to offer cryptocurrency services to clients in Hong Kong. <a href=\\\"https:\/\/www.bloomberg.com\/news\/articles\/2023-02-13\/dbs-plans-to-apply-for-license-to-offer-crypto-to-hk-customers\\\">Bloomberg<\/a> reports.<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>\u201cWe plan to apply for a licence in Hong Kong so the bank can sell digital assets to our Hong Kong clients,\u201d said Sebasti\u00e1n Paredes, CEO of the bank&#8217;s local unit.<\/p>\n<\/blockquote>\n<p>He also welcomed <a href=\"https:\/\/forklog.com\/en\/news\/hong-kong-eases-crypto-regulation-and-revises-stance-on-bitcoin-etfs\">softening of regulation<\/a> and the city-state&#8217;s push for <a href=\"https:\/\/forklog.com\/en\/news\/hong-kong-signals-commitment-to-developing-the-crypto-industry\">development of the crypto industry<\/a>. According to Paredes, DBS Bank is ready to offer digital assets in Hong Kong among the first. The bank already <a href=\"https:\/\/forklog.com\/en\/news\/singapores-largest-bank-confirms-launch-of-cryptocurrency-exchange\">has experience<\/a> launching a cryptocurrency exchange in Singapore.<\/p>\n<p>In February 2023, it emerged that the SFC <a href=\"https:\/\/forklog.com\/en\/news\/hong-kong-regulator-to-boost-staffing-to-strengthen-crypto-oversight\">hire additional specialists<\/a> to ensure &#8216;better oversight&#8217; of the activities of local virtual asset service providers (VASPs).<\/p>\n<p>Back in December 2022, the Legislative Council of Hong Kong <a href=\"https:\/\/forklog.com\/en\/news\/hong-kong-crypto-service-providers-required-to-comply-with-aml-rules\">passed amendments<\/a> to the Anti-Money Laundering and Counter-Terrorism Financing Ordinance, extending its scope to VASPs from 1 June 2023.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Singapore&#8217;s largest bank DBS Bank plans to apply for a licence to offer cryptocurrency services to clients in Hong Kong. Bloomberg reports.<\/p>\n","protected":false},"author":1,"featured_media":74037,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1572,832],"class_list":["post-74036","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-dbs","tag-hong-kong"],"aioseo_notices":[],"amp_enabled":true,"views":"36","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/74036","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=74036"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/74036\/revisions"}],"predecessor-version":[{"id":74038,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/74036\/revisions\/74038"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/74037"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=74036"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=74036"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=74036"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}