Hong Kong Plans to Complete Crypto Asset Reporting Framework Legislation by 2026 and Implement Revised CRS by 2028

AirdropBlackHole · 2026-04-01T08:19:26+00:00

Hong Kong aims to finalize its Crypto Asset Reporting Framework (CARF) by 2026, enabling automatic crypto transaction data exchange to improve transparency. It also plans to implement the OECD's revised Common Reporting Standard by 2028, reinforcing Hong Kong's financial center status.

AirdropBlackHole

2026-04-01 08:19:26

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On April 1, according to a report by Huigang Information, Chan Ho-lam, Deputy Secretary for Financial Services and the Treasury of Hong Kong, stated at the ACCA Hong Kong Annual Tax Seminar that the Legislative Council has supported Hong Kong’s goal to complete the legislation for the Crypto Asset Reporting Framework (CARF) by 2026. This aims to enable the automatic exchange of crypto asset transaction data between tax jurisdictions, enhancing transaction transparency. Additionally, Hong Kong plans to implement the OECD’s revised Common Reporting Standard (CRS) by 2028 and complete the first data exchange with participating tax jurisdictions by 2029. Chan emphasized that the implementation of CRS and CARF is of profound significance for consolidating Hong Kong’s status as an international asset management and financial center.

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