<p><img src="https://images.cointelegraph.com/cdn-cgi/image/format=auto,onerror=redirect,quality=90,width=840/https://s3.cointelegraph.com/uploads/2023-09/0b361293-e63e-4111-be95-1d89edc12994.jpg"></p><p>The HKMA said that funds placed on unlicensed "crypto banks" are not protected by the region's deposit protection scheme. </p>