Customs works with University of Hong Kong to develop crypto transaction tracer

Customs works with University of Hong Kong to develop crypto transaction tracer

Customs officials are working with the University of Hong Kong to develop a tool that can trace cryptocurrency transactions, with the authority stressing it had recorded seven suspected money laundering cases involving virtual assets and more than HK$9 billion (US$1.1 billion) in recent years. Mario Wong Ho-yin, assistant commissioner for intelligence and investigation at the…

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Hong Kong subsidiary law push prompted by China-US tensions, local stability

Hong Kong subsidiary law push prompted by China-US tensions, local stability

Uncertainty surrounding escalating US-China tensions and a “relatively muted society” may have prompted Hong Kong authorities to propose new subsidiary legislation for safeguarding national security, observers have said, although they dismissed speculation the law targets ongoing high-profile cases. In addition, a legal scholar called for more procedural clarity when introducing bills, particularly in circumstances when…

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