Hong Kong's oversight of licensed crypto firms' reporting
Where it stands now. Hong Kong's audit regulator and the SFC now jointly oversee the financial and compliance reporting of SFC-licensed crypto platforms.
The record 1 development
Hong Kong regulators extend reporting oversight to licensed crypto firms
What happened. On 28 September Hong Kong's Accounting and Financial Reporting Council (AFRC) said it signed a new memorandum of understanding with the Securities and Futures Commission (SFC). Their cooperation, which covered listed entities, now also covers the financial and compliance reporting of SFC-licensed corporations, SFC-licensed virtual asset service providers, SFC-authorised funds and open-ended fund companies, and their auditors' work.
Why it matters. SFC-licensed virtual asset service providers and their auditors now fall within the two regulators' joint oversight of financial and compliance reporting, according to the AFRC announcement as reported by TechFlow.
Read the originals (2), usually in their own language
- Hong Kong Accounting and Financial Reporting Council and Securities and Futures Commission Extend Financial Reporting and Audit Regulation to Virtual Asset Service Providers · TechFlow
- Hong Kong expands oversight of licensed crypto firms' accounts through a new MoU · Siam Blockchain, headline translated by us