Hong Kong passes crypto-asset reporting legislation, with information exchange to start in 2028

Hong Kong’s Legislative Council passed the Inland Revenue (Amendment) (Crypto-Asset Reporting Framework and Amended Common Reporting Standard) Bill 2026 on 4 November 2026, the government said that day.

The bill implements the OECD’s Crypto-Asset Reporting Framework, or CARF, and amendments to the Common Reporting Standard for financial accounts. The two sets of changes have different timetables.

Collection before exchange

The government says CARF will be implemented in 2027. Relevant service providers will collect the information specified by the framework for the Inland Revenue Department to exchange with partner jurisdictions from 2028.

The amended CRS takes effect in 2028, with exchanges of financial-account information under that standard starting in 2029. Exchanges will be reciprocal and subject to data confidentiality and security.

The IRD will issue guidance and has established a dedicated team to provide technical support and answer industry enquiries. The government describes CARF as a framework for annual automatic exchange of tax information on crypto-asset transactions.

Analysis. Providers should distinguish the year in which they must start collecting information from the year in which tax authorities begin sharing it internationally. The announcement concerns reporting legislation, not approval of a trading venue or a new securities-listing regime.