On Jun. 30, 2025, CHI CB issued notice to implement proposals in the consultation detailed above; the measures are effective from Aug. 1, 2025.
On Apr. 3, CHI CB drafted measures for AML/CFT re precious metals.
CHI CB proposed Measures for the administration of anti-money laundering and combating terrorist financing for precious metals and gemstones practitioners.
Specify the scope of the measures which apply to traders who engage in spot transactions such as mining, processing and intermediate transactions, retail, recycling of precious metals and gemstones with cash transactions of RMB 100,000 or more.
Specify the AML work requirements as well as the responsibilities of practitioners.
Specify the formation of AML self-discipline mechanism, the requirements of internal control and money laundering risk management, and legal responsibilities.
Effectiveness
Consultation closes on Apr. 16, 2025.
Jun. 2025 Measures Finalized
On Jun. 30, 2025, CHI CB issued notice to implement proposals in the consultation detailed above; the measures are effective from Aug. 1, 2025.
