Hong Kong is developing new legislation for crypto asset reporting

SerNgmi · 2026-02-10T00:00:54+00:00

Hong Kong aims to strengthen its regulatory framework for digital assets by proposing comprehensive legislation for a unified crypto-asset reporting system. The initiative, guided by OECD standards, includes automatic tax information exchange starting in 2028, promoting transparency and combating tax evasion. Public consultations are underway to gather stakeholder input, positioning Hong Kong as a leader in the regulated crypto market.

SerNgmi

2026-02-10 00:00:54

Abstract generation in progress

Hong Kong is actively moving towards strengthening the regulatory framework for digital assets. The Financial Services and Treasury Bureau plans to propose comprehensive legislation aimed at implementing a unified reporting system for crypto assets. At the latest briefing in the Legislative Council, Secretary Christopher Hui and his deputy Joseph Chan participated, presenting a detailed plan for legislative changes.

Reporting Framework and International Standards

The proposed legislation is based on standards developed by the Organisation for Economic Co-operation and Development. The crypto asset reporting system will be aligned with global practices, ensuring harmonization with other financial jurisdictions. The documents submitted to the Legislative Council include a detailed plan for implementing these norms throughout the current year and the coming years.

Automatic Exchange of Tax Information

A key element of the new legislative initiative is the introduction of a mechanism for automatic exchange of tax information between jurisdictions. Starting from 2028, Hong Kong and other countries will have the ability to exchange data on crypto asset transactions. This will ensure transparency in taxation and help combat tax evasion schemes across international borders.

Public Consultation and Outlook

Currently, Hong Kong authorities are gathering public feedback on the legislative proposals. This approach aims to ensure maximum transparency and consider the positions of interested parties — including crypto industry participants, institutional investors, and tax professionals. The implementation of this legislation positions Hong Kong as a leader in the regulated development of the crypto market.

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