{"id":71187,"date":"2022-12-08T14:14:10","date_gmt":"2022-12-08T12:14:10","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=71187"},"modified":"2025-09-08T07:01:45","modified_gmt":"2025-09-08T04:01:45","slug":"hong-kong-crypto-service-providers-required-to-comply-with-aml-rules","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/hong-kong-crypto-service-providers-required-to-comply-with-aml-rules\/","title":{"rendered":"Hong Kong crypto-service providers required to comply with AML rules"},"content":{"rendered":"<p>The Hong Kong Legislative Council<a href=\"https:\/\/www.legco.gov.hk\/yr2022\/english\/counmtg\/papers\/cm20221207cb3-876-1-e.pdf\"> approved<\/a> amendments to the Anti-Money Laundering (AML) and Counter-Terrorist Financing (CFT) laws, extending their application to virtual asset service providers (VASP) from June 1, 2023.<\/p>\n<p>Crypto firms will begin implementing the recommendations followed by traditional financial institutions in the SAR.<\/p>\n<p>The amendments will also establish a licensing regime for VASP.<\/p>\n<p>The regulator will permit crypto exchanges and custodial platforms to operate only if AML rules and investor-protection requirements are observed.<\/p>\n<p>On December 2, Eddie Yue, the Chief Executive of the Hong Kong Monetary Authority, announced preparations to tighten in light of<a href=\"https:\/\/u1f987.com\/en\/news\/ftx-group-files-for-bankruptcy-sam-bankman-fried-resigns-as-ceo\"> FTX collapse<\/a>.<\/p>\n<p><iframe loading=\"lazy\" width=\"1903\" height=\"764\" src=\"https:\/\/www.youtube.com\/embed\/h_xAJVTABx4\" title=\"LIVE : BOT-BIS conference \u201cCentral Banking amidst Shifting Ground\u201d\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen=\"\"><\/iframe><\/p>\n<p>In October, the Hong Kong Financial Services and Treasury Bureau <a href=\"https:\/\/u1f987.com\/en\/news\/hong-kong-eases-crypto-regulation-and-revises-stance-on-bitcoin-etfs\">pledged<\/a> to provide regulatory mechanisms and investor protections for <a href=\"https:\/\/u1f987.com\/en\/news\/what-is-a-cryptocurrency-etf\">ETF<\/a> based on digital assets.<\/p>\n<p>Earlier reports said the <span data-descr=\"Hong Kong Securities and Futures Commission\" class=\"old_tooltip\">SFC<\/span> planned to allow retail investors <a href=\"https:\/\/u1f987.com\/en\/news\/hong-kong-regulator-weighs-easing-crypto-trading-rules\">to directly invest in cryptocurrencies<\/a>.<\/p>\n<p>Read ForkLog&#8217;s Bitcoin news on our <a href=\"\/\/telegram.me\/forklog\u201d\" target=\"\u201c_blank\u201d\" rel=\"\u201cnofollow\u201d noopener\">Telegram<\/a> \u2014 crypto news, rates and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Hong Kong Legislative Council approved amendments to the Anti-Money Laundering (AML) and Counter-Terrorist Financing (CFT) laws, extending their application to virtual asset service providers (VASP) from June 1, 2023.<\/p>\n","protected":false},"author":1,"featured_media":71188,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"Hong Kong extends AML\/CFT rules to virtual asset service providers and introduces a licensing regime for VASPs.","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1166,832,36],"class_list":["post-71187","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-centralized-exchanges-cex","tag-hong-kong","tag-regulation"],"aioseo_notices":[],"amp_enabled":true,"views":"22","promo_type":"1","layout_type":"1","short_excerpt":"Hong Kong extends AML\/CFT rules to virtual asset service providers and introduces a licensing regime for VASPs.","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/71187","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=71187"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/71187\/revisions"}],"predecessor-version":[{"id":71189,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/71187\/revisions\/71189"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/71188"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=71187"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=71187"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=71187"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}