Regulatory Alerts2022-01-28
Added · Updated
Regulatory approaches to Authorized Institutions' interface with Virtual Assets and Virtual Asset Service Providers
The Hong Kong Monetary Authority issued this circular to outline supervisory expectations for Authorized Institutions engaging with virtual assets and virtual asset service providers. The document mandates that institutions implement robust anti-money laundering and counter-financing of terrorism controls when interacting with these entities. It emphasizes a risk-based approach to managing the specific financial crime risks associated with virtual asset transactions and service providers.