The introduction of the licensing regime means that:
- The Anti-Money Laundering and Counter-Terrorist Financing Ordinance (Cap. 615) has been amended, with Part 5B: The Regulation of Activities Involving Virtual Assets now in force;
- Guideline on Anti-Money Laundering and Counter-Financing of Terrorism (For Licensed Corporations and SFC-licensed Virtual Asset Service Providers) has been published;
- Guidelines for Virtual Asset Trading Platform Operators has been published;
- Guidance Note on Cooperation with the SFC has been published;
- Prevention of Money Laundering and Terrorist Financing Guideline issued by the Securities and Futures Commission for Associated Entities of Licensed Corporations and SFC-licensed Virtual Asset Service Providers has been published; and
- SFC Disciplinary Fining Guidelines (for regulated persons under Part 5B of the Anti-Money Laundering and Counter-Terrorist Financing Ordinance) has been published.
Relevant firms should view the updated legislation and guidance and take any appropriate action.