Hong Kong regulators will align their crypto OTC derivatives reporting with ESMA's standards, including the use of Digital Token Identifiers.
Two top-level Hong Kong financial regulators have co-announced their intent to adopt reporting requirements set by the European Securities and Markets Authority (ESMA) for crypto over-the-counter (OTC) derivatives.
On Sept. 26, the Hong Kong Monetary Authority (HKMA) and the Securities and Futures Commission (SFC) shared a plan to bring their OTC reporting requirements up to global standards after studying responses to a consultation paper from March 2024.
According to Hong Kong stakeholders and investors, crypto OTC derivatives investments cannot be classified under the existing traditional five asset classes — interest rates, foreign exchange, credit, commodities and equities.
