Hong Kong regulators expand crypto reporting oversight
- Hong Kong’s SFC and AFRC signed a new MoU covering licensed crypto firms.
- The agreement expands financial reporting, audit, information sharing and coordinated investigations.
- The framework extends Hong Kong’s regulatory oversight across licensed virtual asset service providers.
The Securities and Futures Commission (SFC) and Accounting and Financial Reporting Council (AFRC) have signed a new regulatory cooperation agreement covering financial reporting and audits.
The MoU extends oversight to financial and compliance reporting by SFC-licensed virtual asset service providers and other licensed entities.
“This MoU reinforces our shared commitment to reliable financial reporting and high-quality audits,” according to SFC Chairman Dr Kelvin Wong.
The agreement also covers related audit work performed by auditors serving licensed firms, funds and virtual asset providers.
“This MoU marks an important milestone in the longstanding partnership between the AFRC and the SFC,” according to AFRC Chairman Dr David Sun.
The framework establishes information sharing, case referrals, mutual assistance and coordinated inspections and investigations.
The new agreement replaces a 2021 MoU between the SFC and the former Financial Reporting Council.
The initiative marks a direct shift toward broader financial reporting oversight across Hong Kong’s licensed digital asset market.
