New legislation tailored to regulate the crypto space in Hong Kong aims to implement a licensing regime for crypto service providers. The respective changes to the region’s anti-money laundering (AML) rules have been submitted to its legislature while a recently published report examines relevant threats.
Hong Kong Lawmakers to Review Bill Aligning Crypto Sector With Financial Industry
Amendments designed to govern the cryptocurrency market in Hong Kong have been presented to the members of the Legislative Council of China’s special administrative region. The Anti-Money Laundering and Counter-Terrorist Financing (Amendment) Bill 2022, which was published in the government gazette in June, needs their approval in two readings to become law.
The authors of draft seek to introduce licensing for virtual asset service providers (VASPs) and registration for dealers in precious metals and stones (DPMS). The goal is to impose anti-money laundering and counter-terrorist financing obligations...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...