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Hong Kong Professionals Push for Crypto Reporting Rule Adjustments

Hong Kong Professionals Push for Crypto Reporting Rule Adjustments

Author:

Global Cryptocurrency

Published:

2026-01-20 07:15:02

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BTCCSquare news:

The Hong Kong Securities & Futures Professionals Association (HKSFPA) has called for modifications to the OECD's Crypto Asset Reporting Framework (CARF) implementation, citing operational risks for market participants. While supporting most proposals, the group specifically challenges record-keeping requirements for dissolved entities, arguing they create undue burdens on former officers.

This regulatory push comes as Hong Kong positions itself as a crypto hub, with industry groups seeking balanced oversight that doesn't stifle innovation. The six-year data retention period aligns with existing standards, but personal liability concerns highlight tensions between compliance and practicality in digital asset markets.

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