Hong Kong's Financial Services and the Treasury Bureau plans to hire additional personnel responsible for AI and virtual asset regulation, aiming to investigate companies involved in virtual asset trading.

MarsBitNews · 2026-02-28T05:35:22+00:00

The Hong Kong Institute of Certified Public Accountants submitted a budget to the Legislative Council, proposing a 3.5% salary increase and the creation of 15 new positions to support artificial intelligence and virtual asset regulation. The report pointed out that virtual asset trading companies face auditing challenges, such as verifying asset ownership and the lack of unified accounting standards.

MarsBitNews

2026-02-28 05:35:22

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According to Mars Finance, Hong Kong’s Financial Reporting Council (FRC) has submitted the upcoming fiscal year’s budget proposal to the Hong Kong Legislative Council, suggesting a 3.5% salary increase to support regulatory work in key and emerging areas such as artificial intelligence (AI) and virtual assets, and recommending the addition of 15 new positions. It is reported that the FRC previously released a report stating that companies involved in virtual asset trading are considered emerging industry projects and will be among the inspection targets. Additionally, auditors currently face challenges including verifying virtual asset ownership and existence, valuation complexities, increased fraud risks, and the lack of unified accounting standards for virtual assets.

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