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Hong Kong Opens Up Virtual Asset Licensing Regime, Increasing Demand for AML Compliance Solutions

Hong Kong's virtual asset licensing regime officially opened on June 1, allowing platforms interested in virtual asset business to apply for a license from the Securities and Futures Commission and be regulated by it.

With this move, Hong Kong has taken an important step towards becoming a new global virtual asset center. However, the virtual asset trading platforms will face stricter regulatory and compliance requirements, with anti-money laundering capabilities being a key focus of qualification review.

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