Hong Kong launches consultation on OECD crypto-asset reporting rules and CRS changes

BlockBeats reports that the Hong Kong SAR Government on December 9 launched a public consultation on implementing the OECD's Crypto-Asset Reporting Framework and related amendments to the Common Reporting Standard in Hong Kong. The government aims to complete the required local legislative changes next year, with automatic exchange of tax information on crypto-asset transactions with partner tax jurisdictions targeted from 2028 and implementation of the revised Common Reporting Standard from 2029. Exchanges will apply a reciprocity principle with suitable partners that meet confidentiality and security standards, and the public has been invited to submit views by February 6, 2026. The OECD published the framework in 2023, under which partner tax jurisdictions annually exchange tax data on crypto-asset transactions and incorporate new digital financial products and optimized reporting and due diligence rules into the CRS.