Hong Kong’s Legislative Council passed an amendment to implement a crypto asset reporting framework on November 4. According to Foresight News, the bill, titled the Taxation (Amendment) (Crypto-asset Reporting Framework and Amended Common Reporting Standard) Bill 2026, also covers the latest revisions to the OECD’s Common Reporting Standard.
Hong Kong will implement the crypto asset reporting framework starting in 2027. Relevant service providers will be required to collect specified information, which the Inland Revenue Department will begin exchanging with partner tax jurisdictions in 2028. The amended Common Reporting Standard will also take effect in 2028, with automatic exchanges of financial account information under the new standard scheduled to begin in 2029. The department will issue guidance and has formed a task force to provide technical support and respond to industry inquiries.
Christopher Hui, Hong Kong’s Secretary for Financial Services and the Treasury, said alignment with the latest international standards could give crypto asset service providers, financial institutions, and digital asset users greater confidence to operate and make long-term investments in Hong Kong.