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The Hong Kong Securities & Futures Professionals Association (HKSFPA) has proposed amendments to the Crypto-Asset Reporting Framework (CARF) during a public consultation, advocating for independent custodians to manage record-keeping for dissolved entities and suggesting caps on fines for technical errors. The association supports the six-year record retention period but calls for a simplified registration process for low-activity entities and enhanced compliance through electronic filing. The consultation period will end on February 6, 2026, with the first CARF data exchange anticipated in September 2028.