Hong Kong, China plans to crack down on non-compliant encrypted business and advertising, which will take effect in March next year

On August 5, it was reported that the Anti-Money Laundering and Counter-Terrorist Financing (Amendment) Bill 2022 in Hong Kong, China is undergoing amendments and approvals and will take effect on March 1 next year. Among them, there is a richer regulatory interpretation of cryptocurrencies. The bill requires a license to operate a virtual asset service business and cracks down on cryptocurrency advertising.