Hong Kong’s Legislative Council passed a bill on November 4, 2026, requiring crypto-asset service providers with a Hong Kong connection to collect customer transaction data and report it annually to the local tax authority. The obligations take effect on January 1, 2027, while the first automatic exchanges of information between participating jurisdictions are scheduled for 2028. The bill aligns Hong Kong with the OECD’s Crypto-Asset Reporting Framework and amends the Common Reporting Standard. It also requires affected providers to register with the Inland Revenue Department regardless of their activity level. The law creates no new tax: its purpose is to strengthen tax transparency and reduce tax evasion risks associated with digital assets.
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