Hong Kong to Amend Laws Next Year: Launch of Cross-Border Exchange of Crypto Asset Tax Data in 2028

[BlockBeats] On December 9, the Hong Kong SAR launched a public consultation—to bring the OECD’s crypto-asset reporting framework into local law. The OECD developed this framework back in 2023 to enable tax authorities in different countries to automatically exchange tax data on crypto transactions every year, and to include new digital financial instruments under the Common Reporting Standard (CRS) regulatory scope.

Hong Kong plans to amend relevant local laws within next year. The timeline is: starting in 2028, automatic exchange of crypto asset transaction data with cooperating tax jurisdictions; from 2029, full implementation of the revised CRS standard. However, data exchange must follow the principle of reciprocity—only with partners that meet data confidentiality and security standards.

They are now soliciting public feedback, with the deadline set for February 6, 2026. Anyone with input can submit their comments.