The Hong Kong Securities and Futures Commission issued a statement on the end of the non-violation period for virtual asset trading platforms. The SFC reminds the public that the non-violation period applicable to virtual asset trading platforms operating in Hong Kong under the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (Cap. 615) (the Anti-Money Laundering Ordinance) will end on June 1, 2024.
All virtual asset trading platforms operating in Hong Kong must be licensed by the SFC under the Anti-Money Laundering Ordinance, or be virtual asset trading platform applicants that are "deemed to be licensed". Operating a virtual asset trading platform in Hong Kong in violation of the Anti-Money Laundering Ordinance is a criminal offence, and the SFC will take all appropriate actions against any violations.