By Richard Mazzochi, Minny Siu and Urszula McCormack King & Wood Mallesons’ Hong Kong office.

On 6 February 2018, the Hong Kong Monetary Authority (“HKMA”) published a revised Guideline on Authorization of Virtual Banks (“Guideline”). The Guideline sets out principles that the HKMA will consider when deciding whether to authorise virtual banks to conduct banking business in Hong Kong.
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