26 November 2020

Hong Kong’s proposed pathway to fully licensing virtual asset exchanges – what, why and what’s next?

This article was written by Urszula McCormack, Leonie Tear, Evan Manolios and Kellie Tse

The Financial Services and the Treasury Bureau (FSTB) of Hong Kong has launched a Public Consultation on Legislative Proposals to Enhance Anti-Money Laundering and Counter-Terrorist Financing Regulation in Hong Kong (Consultation).  The Consultation aims to enhance the anti-money laundering and counter-terrorist financing (AML/CTF) regime in Hong Kong by amending the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (Cap. 615) (AMLO).

In this alert, we focus on the proposed licensing of virtual asset exchanges (Proposed Licensing Framework), with a concise summary of the other areas provided at the end.

Key contacts

Share on LinkedIn Share on Facebook Share on Twitter
    You might also be interested in

    We highlight a few implications of the PRC Civil Code and the SPC Interpretation on Security on guarantees and security in favour of offshore lenders.

    05 May 2021

    We share insights in cross-border winding up matters between China Mainland and Hong Kong.

    29 April 2021

    The NEA notification outlines changes to the mechanisms in place for the guaranteed offtake of wind and solar projects.

    15 March 2021

    This client alert outlines the re-domiciliation process and a high level comparison against the re-domiciliation regime in offshore counterparts.

    09 March 2021

    You may also be interested in...

    This site uses cookies to enhance your experience and to help us improve the site. Please see our Privacy Policy for further information. If you continue without changing your settings, we will assume that you are happy to receive these cookies. You can change your cookie settings at any time.

    For more information on which cookies we use then please refer to our Cookie Policy.