DBS Bank Offering Crypto Trading Services in Hong Kong
Banks do not want to miss out on the opportunities that crypto offers. They see people withdrawing money from their bank accounts and investing in crypto. What if the bank can provide crypto services? DBS Bank makes a plan to offer crypto trading services to Hong Kong customers.
They apply for a license in Hong Kong so that they can give trading services to their customers in Hong Kong. Banks want to hold the power and authority that they have in the existing financial system.
People who are new to crypto, they can get into crypto being in their comfort zone. When they learn more about crypto and blockchain, they will hold their crypto in their wallets. This is a good thing because more people get exposure to cryptocurrency and do trading.
The ultimate goal is to take control of your crypto assets and not rely on any third party. You are an adult, you are responsible enough to take responsibility to hold your crypto assets and secure your private key. That's it. If you can do that, you do not need to rely on any third party to hold your crypto assets.
On the other part of the world, you may see the centralized authority puts pressure on banks to cut ties with crypto companies. They are going after the regulatory-compliant crypto company and making it difficult for them to run their business. They love to threaten to sue the crypto company without giving any regulatory clarity.
How the government sees crypto, that's very important. If the government embraces crypto, we may see a different picture. They can use this technology for the growth and development of their country. We have examples of that like El Salvador.
If the government considers crypto as a threat, you can see that through their action. They go hard on crypto, raise different questions, charge fine, file a lawsuit, and shut down the operation. They talk about investors' protection, but most of the time, the regulatory agency goes after bad actors in crypto when they finish making the damage and people already lost their hard-earned money.
Let's explore crypto and blockchain technology and figure out what you can do to have a positive change in your life. Do what is best for you. Crypto gives everyone an opportunity to change their financial situation.
So what do you think? Please feel free to leave your comments. Thank you for reading this post. That's it for now. I'll be back with another post.
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