Hong Kong will legislate on the crypto asset reporting framework, with the goal of completing it by 2026


The Deputy Secretary for Financial Services and the Treasury of Hong Kong, Chen Hao-lian, stated at the 2026 Annual Taxation Seminar of the Hong Kong branch of the Association of Chartered Certified Accountants (ACCA) that the Organisation for Economic Co-operation and Development (OECD) has revised the Common Reporting Standard (CRS) to include new digital financial products such as central bank digital currencies, and has optimized the reporting and due diligence requirements for financial institutions.
In addition, the OECD has released the Crypto Asset Reporting Framework (CARF) to enable tax jurisdictions to automatically exchange crypto asset transaction data to improve transaction transparency. The Hong Kong Legislative Council has already supported this initiative, with the aim of completing legislation by 2026.
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