Regulators around the world keep adjusting their approach on virtual asset regulations. The European Union recently agreed on landmark rules for regulating the cryptocurrency industry, whose meltdown has wiped out billions. EU negotiators agreed on a provisional agreement in July, known as MiCA (Markets in Crypto Assets), which is expected to come into force by the end of 2023.
In the US, President Joe Biden signed an executive order in March regarding digital assets, the first time a "whole-of-government approach" was utilised regarding digital assets and intended to protect and promote positive financial innovation whilst putting a stop to malicious use of digital assets, specifically addressing Russia's attack on Ukraine as one of the reasons for the executive order. And on the other side of the Pacific, the Legislative Council gazetted the Anti-Money Laundering and Counter-Terrorist Financing (Amendment) Bill in June, introducing more regulations for virtual assets in Hong Kong.
Former SFC-regulator Louie Lee, Jan-Patrik Reimann (both of Ravenscroft & Schmierer), and Florian Spiegl, investor and member of the FinTech Advisory Board of the SFC (Securities and Futures Commission), will provide an overview and further insights into the world of virtual asset regulations, including how the recent developments may affect the market and investors.
Discover more at this hybrid event on virtual asset regulation, hosted by the German Chamber of Commerce, Hong Kong (GCC).