Crypto
Hong Kong finance industry seeks easing of OECD CARF rules
Hong Kong’s Securities and Futures Professionals Association has called on the government to ease reporting duties under the OECD’s Crypto Asset Reporting Framework and to strengthen personal data protections. The group said obligations should be reduced for firms with no reporting activity and records could be transferred to a regulated third party when a company closes. It also urged a cap on per-account fines and protections for companies, citing directors’ personal liability. Hong Kong plans its first CARF data exchange by 2028.
