Hong Kong will legislate a reporting framework for crypto assets, aiming to complete it by 2026.

At the 2026 Annual Tax Seminar of the Association of Chartered Certified Accountants (ACCA) Hong Kong Branch, Hong Kong's Under Secretary for Financial Services and the Treasury, Chan Ho-lim, stated that the OECD has revised its Common Reporting Standard (CRS) to include new digital financial products such as central bank digital currencies and optimized the reporting and due diligence requirements for financial institutions. Furthermore, the OECD has released the Crypto Asset Reporting Framework (CARF) to enable tax jurisdictions to automatically exchange crypto asset transaction data, improving transaction transparency. The Hong Kong Legislative Council has given support to complete legislation by 2026. (Aastocks)