Crypto
Home›Crypto›Regulation›Hong Kong SFC and AFRC expand audit and reporting coop…
Hong Kong SFC and AFRC expand audit and reporting cooperation for crypto firms
The memorandum of understanding extends oversight to SFC licensed virtual asset service providers, as well as licensed corporations and certain fund entities.
Hong Kong regulators expanded their cooperation on financial reporting and audits to cover licensed crypto businesses under a new memorandum of understanding, Cointelegraph reports.
The Securities and Futures Commission (SFC) and the Accounting and Financial Reporting Council (AFRC) said the agreement extends their regulatory coordination to financial and compliance reporting by SFC licensed virtual asset service providers.
The MoU also covers related reporting and audit work for licensed corporations, registered open ended fund companies, and authorized funds, according to the SFC.