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 issues guidance to Authorized Institutions regarding the risks and regulatory requirements for engaging with virtual assets and virtual asset service providers. The regulator mandates a risk-based approach focusing on prudential supervision, anti-money laundering controls, and investor protection, requiring institutions to implement robust risk management and due diligence measures. Authorized Institutions are advised to conduct thorough risk assessments and consult with the HKMA before launching any new virtual asset-related products or services.