Government welcomes passage of Inland Revenue (Amendment) (Crypto-Asset Reporting Framework and Amended Common Reporting Standard) Bill 2026

​The Government welcomed the passage of the Inland Revenue (Amendment) (Crypto-Asset Reporting Framework and Amended Common Reporting Standard) Bill 2026 by the Legislative Council today (November 4) to implement in Hong Kong the Crypto-Asset Reporting Framework (CARF) and the latest amendments to the Common Reporting Standard (amended CRS) developed by the Organisation for Economic Co-operation and Development (OECD). In light of the rapid development of digital asset markets in recent years, the OECD published CARF in 2023 to provide for the automatic exchange of tax information on crypto-asset transactions with partner jurisdictions on an annual basis, and amended the CRS to cover digital financial products and enhance the requirements regarding reporting and due diligence. The Secretary for Financial Services and the Treasury, Mr Christopher Hui, said, "Hong Kong has been supporting international efforts in enhancing tax transparency and combatting cross-border tax evasion. Implementing the latest international standards for automatic exchange of information in tax matters is crucial to maintaining Hong Kong's reputation as an international financial and commercial centre. Alig

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