Learn about Hong Kong’s VASP licence application details and get ready for the new regime

*This article was co-authored by Beosin guest authors, lawyers Wang Liao and Jiening Gu. Over the past few years, Hong Kong has seen rapid development in FinTech, presenting a thriving virtual asset ecosystem. To promote the development of Hong Kong as an international virtual asset hub, the HKSAR Government has launched several documents to support Web3, such as the Policy Statement on Virtual Asset Development in Hong Kong published in October 2022. In a positive response to this policy, the Hong Kong Legislative Council passed the latest amendments to the Anti-Money Laundering and Terrorist Financing Ordinance 2022 (AMLO) on 7 December 2022, which means that Hong Kong’s new Virtual Asset Service Provider licensing regime (VASP regime) will be officially implemented from 1 June 2023. <a href="https://medium.com/@Beosin_com/learn-about-hong-kongs-vasp-licence-application-details-and-get-ready-for-the-new-regime-bec8b64dd7c7">Website</a>