Hong Kong Financial Services and the Treasury: Implementing a reporting framework for crypto assets and promoting automatic exchange of tax information on cross-border crypto asset transactions by 2028.

According to the official website of the Hong Kong Legislative Council's Finance Committee, the Financial Services and the Treasury Bureau will hold a policy briefing. Secretary for Finance Christopher Hui and Deputy Secretary for Finance Chan Ho-lim will attend the briefing. The document states that to promote the sustainable and healthy development of the digital asset industry in Hong Kong and further consolidate Hong Kong's status as an international financial center, a legislative proposal will be submitted to the Legislative Council this year to implement revisions to the OECD's crypto-asset reporting framework and common reporting standards. The goal is to automatically exchange tax information related to crypto-asset transactions with other tax jurisdictions from 2028 onwards, in order to combat cross-border tax evasion and improve international tax transparency. Public comments are currently being collected on the legislative proposal.