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Deacons has collaborated with Rajah & Tann to present the Fintech Legal Guide for Hong Kong and Singapore. In this Guide, our Corporate Finance Senior Associate @Chris Wong has shared his insights on money service operators, the content of which has also been recorded in the video “Hong Kong FinTech Legal Guide – Money service operators”.
In this video, Chris highlights that fintech companies may occasionally offer services that resemble remittance services or money changing services, both of which are regulated as money services in Hong Kong under the Anti-Money Laundering and Counter-Terrorist Financing Ordinance and subject to licensing requirements. He emphasises on the importance for fintech companies involved either or both of these services to examine whether they will need to obtain a money service operator’s license in Hong Kong.
The Fintech Legal Guide for Hong Kong and Singapore can be viewed here: https://www.deacons.com/sector/fintech/
Learn more about our Financial Services practice here: https://www.deacons.com/legal-service/investment-funds/
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