Hong Kong passes OECD Crypto-Asset Reporting Framework, implementation to begin in 2027

Hong Kong’s Legislative Council has approved a new bill to integrate the Organisation for Economic Co-operation and Development’s (OECD) Crypto-Asset Reporting Framework (CARF) into the city’s tax law. The measure, known as the Inland Revenue (Amendment) (Crypto-Asset Reporting Framework and Amended Common Reporting Standard) Bill 2026, was passed on November 4 according to a government statement. The new legislation gives legal backing to the roadmap detailed by the Hong Kong government in May. Under the bill, crypto asset service providers such as exchanges, brokers, dealers, and crypto ATM operators with connections to Hong Kong are required to collect user information as specified by CARF from 2027. The Hong Kong Inland Revenue Department (IRD) will begin sharing the collected data with partner jurisdictions starting in 2028.

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