HK Passes Amendments to AML/CTF Bill

16 January 2023

HK Passes Amendments to AML/CTF Bill

Hong Kong’s Anti-Money Laundering and Counter-Terrorist Financing (Amendment) Bill 2022 has been passed.

The Bill will introduce the following in phases in Q2/2023 to allow firms to prepare for the new regulatory requirements:

Licencing procedures for virtual asset service providers (effective from 01.06.2023),
Two-tier registration regime for dealers in precious metals and stones (effective 01.04.2023).

Relevant firms operating within Hong Kong should be aware of these requirements and take appropriate action.

Read the full amendment

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