This recorded webinar provides a detailed examination of Hong Kong’s stablecoin regulatory framework under the Stablecoins Ordinance, with a particular focus on anti-money laundering and counter-terrorist financing obligations applicable to licensed stablecoin issuers. It analyses how licensed issuers are required to design and implement risk-based AML/CFT systems, conduct customer due diligence, manage wallet-related risks, and comply with ongoing monitoring and suspicious transaction reporting obligations.
The session also addresses Travel Rule compliance for stablecoin transfers, including the responsibilities of ordering, intermediary and beneficiary institutions, counterparty due diligence, data protection requirements, and the use of technological solutions such as blockchain analytics. In addition, the webinar explains the licensing application process, restrictions on offering Specified Stablecoins to the Hong Kong public, and the range of criminal offences and enforcement powers under the Stablecoins Ordinance.
Topics covered in the webinar recording:
- AML/CFT obligations of licensed stablecoin issuers under the AMLO and HKMA guidelines
- Risk-based AML/CFT frameworks, governance, compliance officers and audit functions
- Customer Due Diligence requirements for stablecoin holders and transactional thresholds
- Enhanced, simplified and ongoing due diligence, including PEP and high-risk jurisdiction controls
- Wallet risk management, including custodial and unhosted wallet due diligence
- Transaction monitoring, blockchain analytics and secondary market controls
- Suspicious transaction reporting and tipping-off offences
- Travel Rule requirements for stablecoin transfers and counterparty due diligence
- Licensing application procedures and regulatory expectations
- Restrictions on offering Specified Stablecoins and related criminal offences
Access the video here.