Hong Kong Passes Bill for Crypto Tax Data Collection From 2027

Lawmakers in Hong Kong have passed a bill requiring crypto-asset service firms to gather transaction records for tax reporting from 2027, bringing the city into an OECD system for cross-border information exchange.

The measure implements the OECD’s Crypto-Asset Reporting Framework (CARF), extending international tax-compliance obligations to crypto transactions. Providers will begin collecting the information in 2027, while annual exchanges with partner jurisdictions are set to start in 2028. The framework is designed to improve transparency in crypto-related tax reporting.

The reporting process has two stages: providers first gather transaction records, then information is exchanged internationally each year. That sequence puts tax-data collection at crypto service firms ahead of Hong Kong’s cross-border reporting phase. The bill’s passage sets the legal basis for collection to start in 2027 and annual exchanges to begin in 2028. The framework’s stated aim is greater transparency in tax reporting for crypto transactions.