Hong Kong regulators expand oversight cooperation on VASP finance and audits

Hong Kong’s Securities and Futures Commission has signed a new memorandum of understanding with the Accounting and Financial Reporting Council to broaden the scope of regulatory cooperation, BlockBeats reported. The expanded cooperation covers financial and regulatory compliance reporting, as well as related audit work, for SFC-licensed virtual asset service providers and other licensed entities. The two agencies also plan to cooperate on information sharing, case referrals and joint investigations.