The Legislative Council passes the amended bill on the Crypto-Asset Reporting Framework, to be implemented in Hong Kong from next year.

Zhitong Finance APP has learned that on November 4, the Hong Kong SAR Government welcomed the Legislative Council's passage of the Inland Revenue (Amendment) (Crypto-Asset Reporting Framework and Revised Common Reporting Standard) Bill 2026, in order to implement in Hong Kong the Crypto-Asset Reporting Framework and the latest amendments to the Common Reporting Standard formulated by the Organisation for Economic Co-operation and Development (OECD). The Crypto-Asset Reporting Framework will be implemented in Hong Kong from next year, and relevant service providers will then be required to collect information specified under the framework for exchange by the Inland Revenue Department with partner tax jurisdictions from 2028. The revised Common Reporting Standard will also be implemented from 2028, and the Inland Revenue Department will automatically exchange financial account information with suitable partners under the new standard from 2029. Hong Kong will conduct information exchange on a reciprocal basis and under the premise of ensuring information confidentiality and security.