Hong Kong Securities and Futures Commission: The non-violation period for virtual asset trading platforms operating in Hong Kong will end on June 1

ChainCatcher message, the Hong Kong Securities and Futures Commission (SFC) issued a statement regarding the end of the grace period for virtual asset trading platforms. The SFC reminds the public that the grace period applicable to virtual asset trading platforms operating in Hong Kong under the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (Cap. 615) (the "AML Ordinance") will end on June 1, 2024.

All virtual asset trading platforms operating in Hong Kong must be licensed by the SFC under the AML Ordinance or be applicants that are "deemed to be licensed" virtual asset trading platforms. Operating a virtual asset trading platform in Hong Kong in violation of the AML Ordinance is a criminal offense, and the SFC will take all appropriate actions against any violations.