HSBC prohibits the purchase of MicroStrategy shares

Discussion in 'Wall St. News' started by Daal, Apr 9, 2021.

  1. Daal

    Daal

  2. Baron

    Baron ET Founder

    "As a result of this new internal policy, HSBC is effectively banning its customers from buying MicroStrategy shares, or any other cryptocurrency-related securities. "

    1. I'm just wondering if that's even legal.
    2. Do they really think their customers won't go elsewhere to buy what they want?
     
  3. Fain

    Fain

    it's legal but a bad business move.
     
  4. ZBZB

    ZBZB

    Barclays is very crypto friendly.
     
  5. jys78

    jys78

    Wow. Stupid!
     
  6. Fain

    Fain

    What are their fees like for BTC and ETH? I wasn't aware they had a big crypto presence but they aren't around really here in Canada.
     
  7. ZBZB

    ZBZB

    They let you transfer to from crypto exchanges without giving grief. Unlike Citibank and HSBC.
     
  8. Fain

    Fain

    Oh on the payments side? credit cards and wire transfers etc?
     
  9. ajacobson

    ajacobson

    Assuming the leaked letter is real - ask yourself why?
    Is their a Chinese footprint here?
    They may still be under increased supervision from their last laundering fine.
    Is it possible they will be somewhere in the underwriting process for the new Chinese coin?
    The Chinese would never do anything to limit competition:D
     
  10. RedSun

    RedSun

    I think HSBC is concerned with all the liabilities from money laundering and other crypto related activities.
     
    #10     Apr 9, 2021
    VicBee likes this.