Hong Kong reiterates ‘crypto’ and stablecoin regulation pledge as crime skyrockets
Treasury Minister says Hong Kong is to introduce licensing regimes for VASPs, OTCs, and stablecoins to curb crime, which shot up five times in the past three years.
Treasury Minister says Hong Kong is to introduce licensing regimes for VASPs, OTCs, and stablecoins to curb crime, which shot up five times in the past three years.
Hong Kong has set up an ambitious plan to build its Web3 ecosystem, drawing interest from nearly 80 digital asset firms now looking to set up operations in the city-state.
Hong Kong’s lawmakers passed an amendment to the city’s AML laws that takes effect on July 1, bringing VASPs under the purview of the SFC for the first time.