Hong Kong looks to become global OTC crypto center with new EU style reporting

Hong Kong’s fiscal regulators person announced plans to harmonize the city’s over-the-counter (OTC) derivatives reporting regime, including crypto derivatives, with planetary standards. The Hong Kong Monetary Authority (HKMA) and the Securities and Futures Commission (SFC) released a associated consultation decision outlining changes that volition bring the city’s regulations successful enactment with European and planetary practices.

The caller rules, acceptable to instrumentality effect connected September 29, 2025, volition mandate the usage of Unique Transaction Identifiers (UTI), Unique Product Identifiers (UPI), and Critical Data Elements (CDE) for OTC derivatives reporting. These changes purpose to facilitate planetary standardization and harmonization of information elements reported crossed planetary OTC derivatives reporting regimes.

Notably, the regulators person addressed the emerging tract of integer plus derivatives. As the HKMA and SFC reported,

“Given that the Digital Token Identifier (DTI) has been projected arsenic an allowable reportable worth successful the upcoming consultation of mentation 4 of the CDE Technical Guidance, we volition accommodate the usage of DTI successful our reporting requirements.”

This determination aligns Hong Kong with European efforts to standardize integer plus recognition successful fiscal reporting.

The regulators person besides streamlined the fig of mandated information fields to beryllium “in the scope of that successful the EU, the US, and different APAC jurisdictions,” striking a equilibrium betwixt broad reporting and operational ratio for marketplace participants.

Furthermore, Hong Kong volition follow the ISO 20022 XML connection modular for OTC derivatives reporting, a determination that has received wide enactment from manufacture stakeholders. This adoption volition guarantee consistency with planetary reporting practices and facilitate cross-border information sharing and analysis.

These changes correspond a notable measurement successful Hong Kong’s efforts to maintain its presumption arsenic a leading planetary fiscal halfway portion ensuring regulatory alignment with large crypto and integer plus derivatives markets.

The station Hong Kong looks to go planetary OTC crypto halfway with caller EU benignant reporting appeared archetypal connected CryptoSlate.