According to Hong Kong Commercial Daily, the Hong Kong Legislative Council passed the "Anti-Money Laundering and Terrorist Financing (Amendment) Bill 2022" to strengthen Hong Kong's anti-money laundering and terrorist financing system and formulate a comprehensive and balanced system for virtual asset activities. Regulatory framework to protect investors. Those engaged in the business of operating virtual asset exchanges must apply for a license from the Securities and Futures Commission (SFC). In addition, licensed virtual asset exchanges and their subsidiaries are required to submit their audited accounts and financial information to the SFC on a regular basis. Amendments to the licensing regime for virtual asset service providers and other anti-money laundering and counter-terrorist financing requirements come into effect on 1 June 2023.