Hong Kong to Consider Additional FATF-Style Regulations for Crypto Exchanges

Coindesk | Feb 27, 2020 at 4:28 AM
  • Hong Kong may soon bolster its policing of the cryptocurrency sector to better conform with international anti-money-laundering norms, Financial Secretary Paul Chan said in his annual budget speech Wednesday.
  • New regulations could raise the heat on crypto exchanges, OTC desks and brokers in Hong Kong, a global crypto hub.
  • The prospect of government-mandated regulations comes months after the FATF, the global AML standards-setting watchdog, rated Hong Kong “largely compliant” with its recommendations around emerging technologies like cryptocurrency.