Hong Kong’s Securities and Futures Commission and Accounting and Financial Reporting Council signed a new memorandum of understanding on September 28 expanding regulatory cooperation to SFC-licensed virtual asset service providers. The agreement brings crypto firms into a broader oversight framework covering financial and compliance reporting, while extending audit cooperation beyond traditional listed entities.
The MoU also covers licensed corporations, SFC-authorized funds and registered open-ended fund companies, together with related audit and assurance work performed by their auditors. It establishes mechanisms for information sharing, case referrals, mutual assistance and coordinated inspections and investigations on regulatory matters that fall within both watchdogs’ responsibilities.
The new arrangement replaces a 2021 memorandum signed before the Financial Reporting Council became the AFRC. The next phase will be how the two regulators apply the expanded framework to licensed crypto firms and their auditors, with the SFC positioning the agreement as a way to strengthen oversight across a wider range of financial entities and activities.
Source: Securities and Futures Commission of Hong Kong.
Disclaimer: Crypto Economy Flash News are based on verified public and official sources. Their purpose is to provide fast, factual updates about relevant events in the crypto and blockchain ecosystem.
This information does not constitute financial advice or investment recommendation. Readers are encouraged to verify all details through official project channels before making any related decisions.
