Etelka Bogardi and Amy Chung say Hong Kong's efforts to regulate the crypto sector and stablecoin market are on the whole in line with international trends while leaving room for further development.
April 20, 2022PayPal was scheduled to suspend most services for Thai consumers from 7 March as part of a relaunch of its services to comply with local regulations.
March 8, 2022Since 2018, the steps taken by the SFC to regulate the virtual asset space have prioritised investor protection, first and foremost.
March 1, 2022Licensing will be available to companies incorporated elsewhere as long as they have a registration in Hong Kong.
February 11, 2022ICBC (Asia), UBS, CCB (Asia) and CTBC Bank were fined a combined HK$44.2mn for deficiencies in customer monitoring, periodic reviews and due diligence.
November 22, 2021Dechert partner Michael Wong looks at the potential impact of Hong Kong’s newly proposed licensing regime for virtual asset service providers.
June 7, 2021Hong Kong’s FSTB has issued consultation conclusions on the new licensing regime for VASPs and a new registration regime for precious metals dealers.
May 24, 2021Crypto exchanges will reportedly be required to verify customers’ identities using special machines that require Thai national IDs and physical presence.
May 6, 2021The requirement replaces an earlier proposal for OFCs to maintain a significant controllers register, which was deemed too operationally burdensome.
December 24, 2020Onboarding processes should be designed reflecting the principle that CDD is not merely a document collection exercise, the HKMA says.
September 25, 2020