// BEGIN ENQUEUE PARENT ACTION // AUTO GENERATED - Do not modify or remove comment markers above or below: if ( !function_exists( 'chld_thm_cfg_locale_css' ) ): function chld_thm_cfg_locale_css( $uri ){ if ( empty( $uri ) && is_rtl() && file_exists( get_template_directory() . '/rtl.css' ) ) $uri = get_template_directory_uri() . '/rtl.css'; return $uri; } endif; add_filter( 'locale_stylesheet_uri', 'chld_thm_cfg_locale_css' ); if ( !function_exists( 'chld_thm_cfg_parent_css' ) ): function chld_thm_cfg_parent_css() { wp_enqueue_style( 'chld_thm_cfg_parent', trailingslashit( get_template_directory_uri() ) . 'style.css', array( 'font-awesome-v5','bootstrap','sidr','magnific-popup','sliderpro' ) ); wp_enqueue_script('custom-script', get_stylesheet_directory_uri() . '/custom-script.js', array('jquery')); } endif; add_action( 'wp_enqueue_scripts', 'chld_thm_cfg_parent_css', 10 ); // END ENQUEUE PARENT ACTION add_action( 'admin_enqueue_scripts', 'my_cfg_admin_enqueue' ); function my_cfg_admin_enqueue(){ wp_enqueue_script('custom-script', get_stylesheet_directory_uri() . '/custom-script.js', array('jquery')); wp_enqueue_style('style-cfg-child', get_stylesheet_uri(), array(), "4.2"); } add_action( 'after_setup_theme', 'remove_plugin_image_sizes', 999 ); function remove_plugin_image_sizes(){ remove_image_size( '2048x2048' ); remove_image_size( '1536x1536' ); remove_image_size( 'large' ); } function action_dynamic_sidebar_after( $array ) { if($array == "home-content-widgets") { echo the_content(); } }; add_action( 'dynamic_sidebar_after', 'action_dynamic_sidebar_after', 10, 1 ); add_action( 'trashed_post', 'mtp_delete_attached_thumbnail_for_trashed_product', 20, 1 ); function mtp_delete_attached_thumbnail_for_trashed_product( $post_id ) { // gets ID of post being trashed $post_type = get_post_type( $post_id ); // does not run on other post types if ( $post_type != 'post' ) { return true; } // get ID of featured image $post_thumbnail_id = get_post_thumbnail_id( $post_id ); // delete featured image wp_delete_attachment( $post_thumbnail_id, true ); }/** * The header for our theme * * This is the template that displays all of the section and everything up until
* * @link https://developer.wordpress.org/themes/basics/template-files/#template-partials * * @package CoverNews */ ?> HSBC’s CEO Explains Why Crypto Is Not in the Banking Giant’s Future – Finance Bitcoin News – CoinsMegaNews

HSBC’s CEO Explains Why Crypto Is Not in the Banking Giant’s Future – Finance Bitcoin News

3 years ago CryptoExpert
HSBC Is Not Getting Into Crypto, CEO Explains Why

[ad_1]

HSBC Is Not Getting Into Crypto, CEO Explains Why

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 too volatile, the HSBC chief said: “I do worry about the sustainability of the valuations of crypto and I have done for a while. I’m not going to predict where it will go in the future.”

Quinn proceeded to explain why HSBC is more negative on crypto than other banks. He stated:

As a product, I questioned its suitability for many of the consumers in the marketplace today. So that’s why HSBC is more negative on crypto than other banks.

In May last year, Quinn told Reuters: “I view bitcoin as more of an asset class than a payments vehicle, with very difficult questions about how to value it on the balance sheet of clients because it is so volatile.”

He added: “Given the volatility, we are not into bitcoin as an asset class … We are not promoting it as an asset class within our wealth management business.”

As for stablecoins, Quinn said at the time: “For similar reasons, we’re not rushing into stablecoins.” He explained that stablecoins “do have some reserve backing behind them to address the stored value concerns, but it depends on who the sponsoring organization is, plus the structure and accessibility of the reserve.”

In April last year, HSBC Canada notified clients that its crypto policy had changed, stating that it would not facilitate the buying or exchange of products related to virtual currencies. For example, clients could no longer buy shares of Microstrategy (MSTR-US) through HSBC Invest Direct.

What do you think about the comments by HSBC CEO Noel Quinn about cryptocurrency? Let us know in the comments section below.

Kevin Helms

A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

More Popular News

In Case You Missed It

[ad_2]

Source link

Tags:

More Stories

HSBC to Expand Tokenized Asset Offerings — CEO Says He’s ‘Very Comfortable’ With Tokenization

HSBC to Expand Tokenized Asset Offerings — CEO Says He’s ‘Very Comfortable’ With Tokenization

1 year ago CryptoExpert
US Spot Bitcoin ETFs See $55.1M Outflow; GBTC Divests 2,048 BTC Amid Market Volatility

US Spot Bitcoin ETFs See $55.1M Outflow; GBTC Divests 2,048 BTC Amid Market Volatility

1 year ago CryptoExpert
Grayscale CEO Sees GBTC Reaching Equilibrium, Expects Outflows to Ease

Grayscale CEO Sees GBTC Reaching Equilibrium, Expects Outflows to Ease

1 year ago CryptoExpert
Deutsche Bank Survey: Over Half Expect Crypto to Become ‘Important’ Asset Class and Payment Method

Deutsche Bank Survey: Over Half Expect Crypto to Become ‘Important’ Asset Class and Payment Method

1 year ago CryptoExpert
43 Bitcoin Projects Secure Key Funding in 2024 Attracting Over $127 Million

43 Bitcoin Projects Secure Key Funding in 2024 Attracting Over $127 Million

1 year ago CryptoExpert
US Spot Bitcoin ETFs Record $19.4 Million in Outflows, GBTC Holdings Decline

US Spot Bitcoin ETFs Record $19.4 Million in Outflows, GBTC Holdings Decline

1 year ago CryptoExpert

Leave a Reply

Your email address will not be published. Required fields are marked *

/** * The template for displaying the footer * * Contains the closing of the #content div and all content after. * * @link https://developer.wordpress.org/themes/basics/template-files/#template-partials * * @package CoverNews */ ?>

You may have missed

Online Port Machines: The Ultimate Overview to Playing and Winning

3 days ago xtw18387208b

Playing Slots Online – What You Need To Know

3 days ago xtw18387208b

Stand Out in Sp5der Clothing – Express Yourself Sp5der Clothing Shop

6 days ago xtw18387208b

Sp5der Sweater Up to 35% Off

1 week ago xtw18387208b