TechFlow news, January 19 — According to Cointelegraph, the Hong Kong Securities and Futures Professionals Association (HKSFPA) recently urged the Hong Kong government to apply appropriate relaxations when implementing the OECD's Crypto-Asset Reporting Framework (CARF). While supporting CARF’s overall direction in principle—including mandatory registration of crypto asset service providers and expanded transaction reporting—the association recommended easing requirements for non-reporting activities, strengthening personal data protection, establishing clear penalty caps, and allowing companies to transfer recordkeeping to regulated third parties upon cessation of operations. As one of 76 jurisdictions committed to implementing CARF, Hong Kong plans to begin its first data exchange in 2028.
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