Hong Kong: Licensing requirement for virtual asset services providers in anti-money laundering and counter-terrorist financing regulation

Progress

Current status
adopted
21 May 2021 adopted
31 Jan 2021 processing consultation
03 Nov 2020 in consultation

Scope

Implementers
Hong Kong
Policy Area
Authorisation, registration and licensing
Policy Instrument
Business registration requirement
Regulated Economic Activity
digital payment provider (incl. cryptocurrencies)
Government Branch
executive
Government Body
central government
Implementation Level
national

Timeline of events

21 May 2021
adopted

Consultation results include licensing regime for virtual asset services providers

The consultation carried out by the Financial Services and the Treasury Bureau from November 3, 2020 to January 31, 2021 includes a legislative proposal to require operators of virtual asset trading platforms to be licensed by the Securities and Fut…

Source
Event type outline
Action type adoption
Government branch executive
Government body central government
31 Jan 2021
processing consultation

Consultation closed on proposed legislative amendment in the anti-money laundering and counter-terrorist financing ordinance

The consultation carried out by the Financial Services and the Treasury Bureau closed on January 31, 2021 after being opened on November 3, 2020. It had the goal of getting feedback to different amendments of the anti-money laundering and counter-te…

Source
Event type outline
Action type consultation closed
Government branch executive
Government body central government
03 Nov 2020
in consultation

Consultation opened on proposed legislative amendment in the anti-money laundering and counter-terrorist financing ordinance

The Financial Services and the Treasury Bureau opens a consultation until January 31, 2021 with the goal of getting feedback to different amendments of the anti-money laundering and counter-terrorist financing regulation in Hong Kong which includes …

Source
Event type outline
Action type consultation opened
Government branch executive
Government body central government