What is the New Framework?
Hong Kong has introduced the Crypto-Asset Reporting Framework & the Revised Common Reporting Standard (CRS). The proposed legislation was gazetted in May 2026 and introduced to the Legislative Council in June 2026. Once passed, it obliges crypto-asset service providers to register, perform due diligence, and annually report transactions by users. The framework comes into force in two stages: from 1 January 2027, providers must fulfill registration, due-diligence and reporting obligations; full automatic exchange of tax data begins 1 January 2028. (ird.gov.hk)