The main proposal of the paper is to bring OTC trades within the scope of the Anti-Money Laundering and Counter-Terrorist Financing Ordinance. This move aims to enhance the regulatory framework and ensure that OTC trades are subject to the same anti-money laundering and counter-terrorist financing measures as other financial transactions. By including OTC trades under this jurisdiction, authorities can better monitor and prevent illicit activities, such as money laundering and terrorist financing, in the OTC market. This step is crucial in maintaining the integrity of the financial system and safeguarding against potential threats posed by these illegal activities.
HomeDIGITAL ASSETS REGULATORYworldwide-stablecoinHong Kong to Implement Universal Anti-Money Laundering Rules for Over-the-Counter Crypto Traders