Hong Kong: Licensing framework for virtual asset service providers
Progress
Scope
Timeline of events
Announced deadline for VASPs application for license under the AML/CFT Act
On 2 February 2023, the Financial Services and Treasury Bureau of Hong Kong announced that all unlicensed Virtual Asset Service Providers (VASPs) are required to submitt their application for an operational license, as required under the Anti-Money …
SourceImplemented Anti-Money Laundering and Counter-Terrorist Financing (Amendment) Act 2022
On 1 June 2023, the Anti-Money Laundering and Counter-Terrorist Financing (Amendment)Act 2022, establishing a new licensing regime for virtual asset service providers (VASPs) in Hong Kong, came into force. The Bill amends the current Anti-Money Laun…
SourceAdopted Anti-Money Laundering and Counter-Terrorist Financing (Amendment) Bill 2022
On 7 December 2022, the Hong Kong legislative chamber adopted the Anti-Money Laundering and Counter-Terrorist Financing (Amendment) Bill 2022. The Bill amends the current Anti-Money Laundering and Counter-Terrorist Financing Ordinance (Cap. 615) and…
SourceIntroduced Anti-Money Laundering and Counter-Terrorist Financing (Amendment) Bill 2022
On 6 July 2022, the Hong Kong legislative chamber introduced the Anti-Money Laundering and Counter-Terrorist Financing (Amendment) Bill 2022. The bill aims to amend the current Anti-Money Laundering and Counter-Terrorist Financing Ordinance (Cap. 61…
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