Hong Kong's Legislative Council passed a crypto tax reporting bill on November 4, 2026, adopting the OECD's Crypto Asset Reporting Framework. From January 1, 2027, crypto exchanges, brokers and other qualifying service providers must collect customer data and report transactions to the Inland Revenue Department. Information exchanges with participating jurisdictions begin in 2028.
Crypto exchanges, brokers and other qualifying service providers in Hong Kong must register with the Inland Revenue Department from January 2027 and report customer transactions, with information exchanges beginning in 2028. The law does not impose an additional tax on cryptocurrency transactions.
Hong Kong's Legislative Council passed a crypto tax reporting bill on November 4, 2026, requiring service providers to collect customer transaction data from 2027 and begin international information exchanges in 2028. The government said in its November 4 announcement that lawmakers approved legislation adopting the OECD's Crypto Asset Reporting Framework (CARF). The law applies to all crypto exchanges, brokers and other qualifying service providers in the city.
Starting January 1, 2027, covered crypto companies must collect customer information and report qualifying transactions to the Inland Revenue Department. The requirements include names, addresses, tax residency, identification numbers and dates of birth. Providers must report all crypto purchases, sales, exchanges and transfers, including to external wallets. Businesses must register with the IRD from January 2027, and existing customers must provide tax residency declarations by January 2028.
Beginning in 2028, Hong Kong's tax department will exchange reported crypto information with participating jurisdictions. The framework is based on OECD principles for enhanced tax transparency between countries. The law does not set up an additional tax on cryptocurrency transactions. Reporting requirements are triggered for qualifying businesses incorporated, tax-resident, managed or operating in Hong Kong, and are based on customers' tax residency and the participation of their jurisdiction in the information-sharing framework.
Alongside the crypto framework, lawmakers approved changes to the existing Common Reporting Standard. The new rules will go into effect in 2028 and automatic exchanges of financial account data will start in 2029. Hong Kong has exchanged financial account information under the existing CRS framework since 2018. Financial Services and the Treasury Secretary Christopher Hui said international standards might boost the confidence of financial institutions, crypto companies and users of digital assets.
Separately, Hong Kong has introduced 24/7 tokenized deposit settlement under Project Ensemble, allowing participating banks to process blockchain-based transactions around the clock. The IRD has established a task force to support businesses preparing for compliance and will provide guidance and responses to technical questions. International exchanges will be done subject to "confidentiality and data security protection", the government said. Lists of participating jurisdictions will be published later.
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