Flexi-News: Hong Kong introduces a licensing regime for virtual asset firms, penalising unlicensed operations with fines up to HK$5M, enforcing strict AML/CTF rules and oversight

The framework aims to curb money laundering, enforce strict AML/CTF standards aligned with global norms, and bring all virtual asset intermediaries under a single supervisory regime, with the legislative bill expected to be submitted to the Legislative Council in 2026…