Regulatory Alerts2019-12-16
Added · Updated
Managing ML/TF Risks Associated with Virtual Assets and Virtual Asset Service Providers
The Hong Kong Monetary Authority issued this Circular to guide Authorized Institutions on managing money laundering and terrorist financing risks linked to virtual assets and virtual asset service providers. It requires institutions to implement robust anti-money laundering and counter-financing of terrorism controls when engaging with virtual asset activities. This guidance ensures compliance with regulatory standards by addressing specific risks inherent in the virtual asset sector.