According to CoinMeta, as reported by "Star Island Headlines," the Hong Kong Institute of Accountants and Financial Reporters ( AFRC ) and the Securities and Futures Commission of Hong Kong ( SFC ) have signed a new memorandum of understanding to expand their regulatory cooperation to a broader range of financial and compliance reporting areas. The new framework covers licensed corporations, licensed virtual asset service providers ( VATP ) by the SFC, funds recognized by the SFC, and registered open-ended fund companies. Both parties will also enhance information sharing, case referrals, joint inspections, and investigation collaboration.