Hong Kong Launches Consultation on Crypto Tax Reporting Rules
Hong Kong’s government has launched a public consultation to update crypto tax reporting rules in line with the OECD’s new global transparency standards, including the Crypto-Asset Reporting Framework (CARF). Officials say the review aims to clarify obligations for exchanges, custodians and other crypto service providers while improving information sharing with overseas tax authorities.
The consultation is significant for firms and investors: harmonised reporting could reduce compliance uncertainty and support cross-border enforcement, but may also raise operational costs for local platforms. Market participants and tax practitioners will be watching for detailed rules on transaction reporting, due diligence and data protection — outcomes that could influence Hong Kong’s competitiveness as a regional crypto hub and its integration into the global tax transparency regime.