US EditionHong Kong Targets Crypto Tax Evasion with 2028 Data Sharing Plan
Hong Kong seeks public input on OECD-based crypto tax rules to enhance transparency and combat cross-border tax evasion, targeting automatic information exchange by 2028.
- The Hong Kong government launched a public consultation on sharing crypto-asset information with other governments, inviting views through February 6, 2026, and targeting automatic exchanges from 2028.
- The move follows the Organisation for Economic Co-operation and Development's 2023 Crypto-Asset Reporting Framework and Hong Kong's 2018 Common Reporting Standard, facing a 2024 peer review.
- The consultation paper details the OECD's CARF and amended CRS, and Hui said the government will amend the Inland Revenue Ordinance with proposals for mandatory financial institutions registration, tougher reporting, higher penalties, and reciprocal exchanges with partner jurisdictions meeting confidentiality and security standards.
- Market participants face extended CARF transparency rules on licensed crypto exchanges, as Hong Kong courts crypto with licensing and spot ETFs while HashKey Holdings prepares to raise at least $200 million.
- Against a backdrop of mainland actions, the consultation arrives as Hong Kong balances digital-asset innovation with global rules amid PBOC's crackdown and stablecoins flagged as risks.
16 Articles
16 Articles
Hong Kong Launches Consultation on Crypto Tax Reporting Framework
Hong Kong has launched a public consultation on implementing the OECD's Crypto-Asset Reporting Framework and amendments to existing tax information exchange standards, the territory's government announced Tuesday.The consultation seeks feedback on proposed amendments to the Inland Revenue Ordinance that would enable Hong Kong to automatically exchange tax information on crypto-asset transactions with partner jurisdictions starting in 2028. The g…
Crypto-Asset Reporting Framework: Hong Kong Opens Consultation on Crypto Tax Reporting Rules
TLDR: Hong Kong begins consultation to integrate CARF rules and enhance crypto tax-reporting obligations. Updated CRS rules introduce new digital financial products and stronger due-diligence requirements. Government plans mandatory registration and stricter penalties for institutions handling reportable data. Automatic exchange of crypto-asset tax information is targeted to start with partner jurisdictions in 2028. Hong Kong has opened a publi…
Hong Kong Outlines Roadmap for Crypto-Asset Tax Reporting by 2028
Hong Kong begins a public consultation on new global tax transparency rules. Proposed changes aim to introduce crypto-asset reporting under international standards. The government plans legislative amendments to meet OECD requirements. Public feedback will guide final proposals before implementation. The government has opened a public consultation on how Hong Kong should put the Crypto-Asset Reporting Framework into use and update rules under th…
Hong Kong’s Crypto Consultation Aligns with Evolving International Disclosure Rules
TL;DR Hong Kong has launched a public consultation to implement the CARF and update the CRS, aiming to align crypto oversight with international standards. The city plans to begin the automatic exchange of crypto-asset data in 2028. CARF already involves 76 committed countries and 53 signatories of the Multilateral Competent Authority Agreement (MCAA), strengthening tax cooperation and Hong Kong’s financial standing. Hong Kong has initiated a p…
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