Hong Kong's Secretary plans legal regulation for crypto asset reporting

MEV_Whisperer · 2026-02-14T01:14:38+00:00

Hong Kong implements new legal regulations for the implementation of OECD standards for crypto-assets, including automatic information exchange on transactions starting from 2028, to combat tax evasion and promote transparency.

MEV_Whisperer

2026-02-14 01:14:38

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Hong Kong’s Financial Services and Treasury Bureau has announced that Secretary Christopher Hui and Deputy Secretary Joseph Chan will attend a meeting of the Legislative Council’s Finance Committee. According to Odaily, legislative proposals for implementing a comprehensive reporting framework for crypto assets will be presented.

OECD Standards and New Reporting Obligations

The proposed legislation aims to implement the common reporting standards for cryptocurrencies developed by the OECD. This aligns Hong Kong with an international trend requiring financial institutions and platforms to collect and report detailed information on crypto transactions. The public can currently submit their comments on these legislative drafts.

Automatic Exchange of Information Starting in 2028

A key goal of the initiative is to initiate the automatic exchange of tax information on crypto asset transactions between Hong Kong and other tax authorities worldwide starting in 2028. This aims to more effectively curb cross-border tax evasion and enhance international tax transparency.

Strengthening Regulatory Framework

The measures by the Secretary and his team demonstrate Hong Kong’s commitment to integrating into the global financial architecture to combat tax evasion. The Legislative Council will review the submitted proposals in the coming months before the formal legislative process begins. This further positions the city as a responsible international financial center.

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