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Hong Kong: Announced deadline for VASPs application for license under the AML/CFT Act

Policy overview

Description

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 …

Scope

Policy Area
Authorisation, registration and licensing
Policy Instrument
Operational license requirement
Regulated Economic Activity
digital payment provider (incl. cryptocurrencies)
Implementation Level
national
Government Branch
executive
Government Body
other regulatory body

Complete timeline of this policy change

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2022-07-06
under deliberation

On 6 July 2022, the Hong Kong legislative chamber introduced the Anti-Money Laundering and Counter-…

2022-12-07
adopted

On 7 December 2022, the Hong Kong legislative chamber adopted the Anti-Money Laundering and Counter…

2023-06-01
in force

On 1 June 2023, the Anti-Money Laundering and Counter-Terrorist Financing (Amendment)Act 2022, esta…

2024-02-02
in force

On 2 February 2023, the Financial Services and Treasury Bureau of Hong Kong announced that all unli…