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Hong Kong’s HKSFPA Calls for Balanced CARF Rules Amid Crypto Sector Concerns

Hong Kong’s HKSFPA Calls for Balanced CARF Rules Amid Crypto Sector Concerns

Author:
Global Cryptocurrency
Published:
2026-01-19 17:50:02
BTCCSquare news:

Hong Kong's financial sector faces mounting tensions as the HKSFPA challenges proposed CARF regulations, warning of disproportionate burdens on crypto firms. The association supports OECD-aligned frameworks but demands clearer post-dissolution protocols and scaled compliance for low-activity entities.

Record-keeping requirements emerge as a critical flashpoint, with the HKSFPA advocating for automated solutions to mitigate operational risks. The group's recommendations highlight the delicate balance between regulatory oversight and fostering Hong Kong's position as a digital asset hub.

|Square

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