Hong Kong tightens crypto reporting rules to boost 'market integrity'
- —SFC and AFRC signed the MoU on September 28 to jointly oversee crypto firms
- —Licensed VASPs will face audits of balance sheets, proof-of-reserves and compliance
- —The arrangement covers information sharing, case referrals and coordinated inspections
- —Hong Kong has issued nearly $4B in tokenized public-sector bonds since 2023
Why it matters: Hong Kong is extending bank-grade reporting to crypto, which should boost institutional confidence but raises compliance costs for licensed venues.
Source: AMBCrypto