The Hong Kong government plans to automatically exchange tax information related to crypto asset transactions with partner tax jurisdictions starting from 2028.

According to ChainCatcher, as disclosed by the Hong Kong Government News Bulletin, the Hong Kong government has launched a public consultation on the implementation of the Crypto-Asset Reporting Framework (CARF) and the revised Common Reporting Standard (CRS) issued by the Organisation for Economic Co-operation and Development (OECD). The government plans to complete local legislative amendments within next year, aiming to begin the automatic exchange of tax-related information on crypto-asset transactions with partner tax jurisdictions from 2028, and to implement the newly revised CRS from 2029. Christopher Hui, Secretary for Financial Services and the Treasury, stated that this move aims to demonstrate Hong Kong’s commitment to promoting international tax cooperation and combating cross-border tax evasion, which is crucial for maintaining Hong Kong’s reputation as an international financial center. The OECD announced the reporting framework in 2023, enabling participating tax jurisdictions to automatically exchange tax-related information on crypto-asset transactions annually. Since 2018, Hong Kong has exchanged financial account information with partners in accordance with the OECD’s CRS. The public can submit their comments on the proposed measures until February 6, 2026.