Hong Kong Lenders Woefully Unprepared for Digital Assets: Central Bank

Hong Kong's central bank has revealed its assessment of lenders' preparedness for digital assets. According to the bank, only a small percentage of lenders have adequately addressed the risks associated with cryptocurrencies and stablecoins.

The bank's survey found that only 6% of lenders have implemented measures to assess their exposure to digital assets. This is despite growing demand from clients who are increasingly interested in investing in these assets.

Regulatory officials have expressed concerns about the lack of preparedness among lenders, citing potential risks to financial stability if not addressed.