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Hong Kong will inspect crypto exchanges’ offices as a major compliance deadline approaches
By June 1, 2024, all crypto platforms providing trading services known as virtual asset trading platforms (VATPs) in Hong Kong must be authorized by the SFC or “deemed to be authorized”, which is a temporary arrangement during the process for achieve full compliance. Beyond that deadline, it would be a “criminal offense to operate in Hong Kong” in violation of anti-money laundering and anti-terrorism laws, the SFC said.