HSBC will not allow its clients to buy Microstrategy shares due to their new virtual currency policy, according to Documenting BitcoinHSBC will not allow its clients to buy Microstrategy shares due to their new virtual business.
In the text of message shared by Documenting Bitcoin it’s written that HSBC has changed its policy on virtual currencies such as Bitcoin and Ethereum, and on related products or products that refer to the performance of virtual currencies.
Due to this new internal policy, HSBC may prohibit its customers from purchasing Microstrategy shares, or other securities related to cryptocurrencies.
HSBC will not let clients buy Microstrategy stock due to their newly changed policy on “virtual currencies”. pic.twitter.com/eP1RJIsRE1 – Documenting Bitcoin 📄 (@DocumentingBTC) April 8, 2021
For several months now, HSBC has decided to adopt an extremely restrictive policy towards cryptocurrencies, while instead it seems decidedly in favor of central bank digital currencies. Therefore, its hostility is probably not due to a resistance to technological innovation, but to the new global financial system that cryptocurrencies could help build.
