The Hong Kong Monetary Authority has urged the public to be vigilant about certain offshore crypto-asset institutions that are not licensed banks in Hong Kong. They may have violated the Banking Ordinance by claiming to be "banks" in Hong Kong or using the word "bank" when describing their products or services. The HKMA has noticed that two offshore crypto-asset institutions that are not licensed banks in Hong Kong held separate events in Hong Kong. During the event, one of them was reported to have referred to itself as a "bank", and the other described the card products offered on its website as "bank cards". The HKMA is concerned that the statements of the institutions may lead consumers to misbelieve that they are licensed banks in Hong Kong and regulated by the HKMA, or that such products and services are provided by licensed banks in Hong Kong. The HKMA reminds the public that crypto-asset institutions that are not authorized institutions in Hong Kong are not regulated by the HKMA. The inclusion of the word "bank" in the name of an overseas crypto-asset institution, or the claim of an overseas "crypto bank" to be licensed elsewhere, does not necessarily mean that it is a licensed bank in Hong Kong. In addition, products or services with the word "bank" attached to the name are not necessarily provided by licensed banks in Hong Kong.