PANews February 13 News, according to Hong Kong Economic Daily, the new President of the Hong Kong Institute of Certified Public Accountants, Lo Cheuk Kin, stated that guidelines are being developed to help the accounting industry and business community understand how to handle virtual assets in accounting. The first part of the guidelines involving virtual currencies and stablecoins has been issued. The second part, which has not yet been announced, relates to the Hong Kong Monetary Authority’s stablecoin audit requirements. The institute is currently discussing this with the HKMA and expects to release it within six months. The third part, the virtual asset accounting guidelines, is targeted for release by the end of the year, but it will only be launched after further communication and consensus with regulators and industry stakeholders.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
PACE Act Targets Faster Payments With Fed Access for Fintechs
PACE Act introduces optional federal licensing for fintechs, requiring compliance, reserves, and oversight by the OCC.
Direct access to Fed systems like FedNow and Fedwire aims to cut delays, lower costs, and reduce reliance on banks.
Industry groups support the bill, citing improved
CryptoFrontNews2h ago
Peter Schiff calls the Strategy STRC a Ponzi scheme, criticizing the SEC for inadequate regulation
Bitcoin critics and gold supporter Peter Schiff posted on X on April 23, saying that the STRC perpetual preferred stock introduced by MicroStrategy (Strategy) is “the most obvious Ponzi scheme to date,” and criticizing the U.S. Securities and Exchange Commission (SEC) for failing to effectively stop Michael Saylor from promoting STRC.
MarketWhisper3h ago
Sberbank plans to offer cryptocurrency trading; the Russian Duma has passed the bill on its first reading
According to a report by TASS on April 22, Ruslan Vestrovskiy, senior vice president and head of wealth management at Russia’s Sberbank, said at the Moscow Exchange Forum that once cryptocurrency-related regulation is implemented and exchanges begin organized trading, Sberbank will provide its customers with cryptocurrency trading services. On the same day, the Russian State Duma passed the first reading of a bill on cryptocurrency regulation.
MarketWhisper3h ago
U.S. Crypto Market Structure Bill Nears Stablecoin Rewards Breakthrough as Illicit Finance and Ethics Concerns Resurface
Gate News message, April 23 — Negotiations on a broader U.S. cryptocurrency market-structure bill, known as the Clarity Act, are in a "good spot" on stablecoin rewards, according to key negotiators Senators Angela Alsobrooks (D-Md.) and Thom Tillis (R-N.C.), even as other contentious issues includin
GateNews3h ago
UK FCA raids eight P2P crypto trading venues in London, issues a stop order
On April 22, the UK Financial Conduct Authority (FCA) announced that its enforcement team, together with Her Majesty’s Revenue and Customs (HMRC) and the Southwest Regional Organized Crime Unit (SWROCU), conducted raids on eight suspected illegal peer-to-peer (P2P) cryptocurrency trading venues in London on April 21, issuing stop orders at each location. The FCA confirmed that there are currently no legally registered P2P crypto platforms in the UK.
MarketWhisper3h ago
