In February 2024, the Financial Services and the Treasury Bureau (“FSTB”) issued the consultation document seeking views on the regulation of over-the-counter ("OTC") trading of virtual assets ("VA") through introducing a licensing regime for VA OTC service providers under the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (Cap. 615) (“AMLO”). The consultation period is now over and it is anticipated that the FSTB will be publishing further updates on this shortly.
This client alert summarises the proposed regulatory regime as set out in the consultation document.
Click here to read more.
