TechFlow, December 9 — According to a press release from the Hong Kong government, the government has launched a public consultation on amending regulations to implement the Crypto-Asset Reporting Framework and revised Common Reporting Standard issued by the Organisation for Economic Co-operation and Development (OECD).
The government plans to complete local legislative amendments within next year, aiming to automatically exchange tax-related information on crypto-asset transactions with partner jurisdictions starting in 2028, and to implement the revised Common Reporting Standard from 2029. Financial Secretary Christopher Hui stated that this move demonstrates Hong Kong's commitment to promoting international tax cooperation and combating cross-border tax evasion, which is crucial to maintaining Hong Kong's reputation as an international financial center.
The OECD published this reporting framework in 2023, enabling partner tax jurisdictions to automatically exchange tax-related data on crypto-asset transactions annually. Since 2018, Hong Kong has been exchanging financial account information with partner jurisdictions under the OECD's Common Reporting Standard. The public may submit comments on the proposed measures by February 6, 2026.
