Regulatory Alerts2024-07-23
Added · Updated
Cryptoasset disclosure requirements and standard amendments
The Hong Kong Monetary Authority's Banking Policy Department issued a circular on 23 July 2024 to align local regulatory frameworks with the Basel Committee on Banking Supervision's final cryptoasset disclosure and standard amendments. The new requirements mandate that banks disclose qualitative activities, quantitative capital and liquidity metrics, and accounting classifications for cryptoasset exposures through standardized templates. Additionally, the amendments refine eligibility criteria for stablecoins to receive preferential regulatory treatment while introducing technical revisions to ensure consistent interpretation of the cryptoasset standard.