HKMA to Issue Stored Value Facilities Guidelines in September
(Bloomberg) -- Henry Cheng, executive director for monetary management at Hong Kong Monetary Authority, says in a briefing in Hong Kong.
- Real-name registration will be required based on the maximum stored value of the accounts as an anti-money laundering measure: Cheng
- China-based companies are required to set up a company registered in Hong Kong for the SVF licenses: Cheng
- One applicant withdrew during the licensing process: HKMA Senior Executive Director Howard Lee
- NOTE: HKMA Grants Stored-Value Facilities Licences to Alipay, Octopus NSN OCGJ2T6TTDSH
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HALISTER1Source: BFW (Bloomberg First Word)
Tickers HKMA HK (Hong Kong Monetary Authority)
People Henry Cheng (Hong Kong Monetary Authority)
Howard Lee (Hong Kong Monetary Authority)
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