Hong Kong plans to expand the regulation of virtual money and strengthen the AML system.

The Financial Secretary of Hong Kong proposed in the latest "Budget" to further strengthen the system for combating Money Laundering and terrorist financing. This plan includes considering the inclusion of Virtual Money service providers as well as the jewelry and precious metals industries under regulatory scrutiny. The government intends to launch public consultations on these specific proposals within this year.

The Financial Secretary stated that the Financial Action Task Force, an international regulatory body, completed a comprehensive assessment of Hong Kong's relevant systems last year. Hong Kong has become the first member region in the Asia-Pacific to successfully pass the review by this organization, and the government will continue to improve the relevant systems by referring to the recommendations in the assessment report.

In addition, the Hong Kong government will continue to implement the latest international banking regulatory standards set by the Basel Committee on Banking Supervision to maintain the financial stability of Hong Kong. These measures aim to further enhance Hong Kong's status and competitiveness as an international financial center.