Raymond Oh

Aug 29, 2024 | lexology.com | Raymond Oh |Felicity Wong

SummaryPending the introduction of the draft bill implementing the legislative proposal to implement a regulatory regime for fiat-referenced stablecoin issuers in Hong Kong, this article summarizes Hong Kong Monetary Authority (HKMA) initiatives in support of tokenized payments (wCBDC, e-HKD, or tokenized deposits) used for settlement in tokenized asset transactions.

Nov 22, 2023 | lexology.com | Raymond Oh |Felicity Wong

The Hong Kong Fintech Week organized annually is not only the mega event for fintech industry players worldwide to gather in Hong Kong. It has also been significant as the “traditional” venue where the Hong Kong Regulators (SFC and HKMA) pronounce new policy initiatives, publish new regulatory guidance, and advocate their policy approach to the world.

Jun 1, 2023 | lexology.com | Raymond Oh |Felicity Wong

Finally, the Hong Kong Securities and Futures Commission (HKSFC) has published its Consultation Conclusions on the Proposed Regulatory Requirements for Virtual Asset Trading Platform Operators (Platform Operators) (Consultation Conclusions) and the final Guidelines for Virtual Asset Trading Platform Operators (VATP Guidelines) on 23 May 2023. PLEASE NOTE THAT THE VATP GUIDELINES WILL BECOME EFFECTIVE ON 1 JUNE 2023.

Jun 1, 2023 | lexology.com | Raymond Oh |Felicity Wong

In the consultation conclusions released by the Securities and Futures Commission (HKSFC) on 23 May 2023 (Consultation Conclusions), the HKSFC has indicated that the HKSFC has also incorporated non-substantive changes to the existing: Guideline on Anti-Money Laundering and Counter-Financing of Terrorism for Licensed Corporations (AML Guideline for LCs); and Prevention of Money Laundering and Terrorist Financing Guideline issued by the Securities and Futures Commission for Associated Entities,...

May 31, 2023 | lexology.com | Raymond Oh |Felicity Wong

Hong Kong is all set with adopting a dual licensing regime (VATP Licensing Regime) applicable to virtual assets trading platform operators (Platform Operators) that will be administered by the Securities and Futures Commission of Hong Kong (HKSFC). The HKSFC released its Consultation Conclusions (Consultation Conclusions) on the Proposed Regulatory Requirements for Virtual Asset Trading Platform Operators Licensed by the HKSFC on 23 May 2023.