On 24 June 2022, the Hong Kong government published the Anti-Money Laundering and Counter-Terrorist Financing (Amendment) Bill 2022 in the Gazette. The Amendment Bill introduces a new licensing regime which requires virtual asset service providers (VASPs) to obtain a licence from the Securities and Futures Commission (SFC) in order to operate a virtual asset exchange in Hong Kong. Licensed VASPs will be subject to the requirements stipulated by the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (Cap. 615) and other requirements to be published and regulated by the SFC. The new regime will come into effect on 1 March 2023.
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