Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnSquareMore
Hong Kong Prepares to Share Crypto Asset Data with Tax Authorities Worldwide

Hong Kong Prepares to Share Crypto Asset Data with Tax Authorities Worldwide

CoinEditionCoinEdition2025/12/08 16:00
By:Coin Edition

The government plans to enable the automatic exchange of tax information on crypto asset transactions with other jurisdictions It also aims to pass local legislative amendments within a year, start data exchange under CARF around 2028, and roll out the amended CRS by 2029 As of late 2025, the city’s licensing regime for virtual asset trading platforms (VATPs) is becoming more established, with multiple licensed platforms under the supervision of the local regulator

  • The government plans to enable the automatic exchange of tax information on crypto asset transactions with other jurisdictions
  • It also aims to pass local legislative amendments within a year, start data exchange under CARF around 2028, and roll out the amended CRS by 2029
  • As of late 2025, the city’s licensing regime for virtual asset trading platforms (VATPs) is becoming more established, with multiple licensed platforms under the supervision of the local regulator

The Hong Kong government launched a public consultation on implementing the Crypto‑Asset Reporting Framework (CARF) and making related amendments to the Common Reporting Standard (CRS), both developed by the Organisation for Economic Co-operation and Development (OECD).

The goal is to enable automatic exchange of tax information on crypto asset transactions with other jurisdictions. The government plans to pass local legislative amendments within a year, start data exchange under CARF around 2028, and roll out the amended CRS by 2029.

Christopher Hui, the Secretary for Financial Services and the Treasury, stated that this step shows the city is serious about working with other countries on tax rules, while also protecting its image as a top global hub for business and finance.

Related: Hong Kong Adds Two New Laws to Its Virtual Asset Regulatory Framework

Since last year, the OECD has been rechecking how Hong Kong enforces its tax information sharing rules. To address the feedback and keep its global standing strong, the Hong Kong government is proposing new legal changes, which would require all financial firms to register, improve how they verify clients, and face stiffer penalties for non-compliance.

Hong Kong’s Crypto Hub Push Meets Stricter Reporting Rules

Hong Kong has been actively trying to become the go-to destination for crypto trading, managing digital investment funds, and related businesses. A big part of this plan involves introducing official licenses for crypto exchanges and other companies operating in the space.

As of late 2025, the city’s licensing regime for virtual asset trading platforms (VATPs) is becoming more established. There are now multiple licensed platforms under the supervision of the local regulator, with a dual-license structure involving both the Securities and Futures Commission (SFC) and the banking regulator, depending on the product.

Related: Hong Kong to Ease Restrictions on Crypto Trading to Boost Market Activity

Also, Hong Kong has loosened some rules to let its approved crypto exchanges connect their trading systems to partner platforms abroad. This is designed to deepen the pool of available buyers and sellers, aiming to create better prices and make the market more accessible globally.

Still, for everyday crypto users (especially anyone sending funds internationally or using their own wallet apps), the announcement to share crypto asset data means less anonymity. Once the system is active, tax authorities in other countries will be able to see data about users’ crypto holdings and transfers.

0
0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

COAI Experiences Significant Price Decline in Late November 2025: Is the Market Overreacting or Does This Present a Contrarian Investment Chance?

- ChainOpera AI (COAI) plummeted 90% in late 2025 due to CEO resignation, $116M losses, and regulatory ambiguity from the CLARITY Act. - Market panic and 88% supply concentration in top wallets amplified the selloff, while stablecoin collapses worsened liquidity risks. - Contrarians highlight C3 AI's 26% YoY revenue growth and potential 2026 regulatory clarity as signs of mispriced long-term AI/crypto opportunities. - Technical indicators suggest $22.44 as a critical resistance level, with analysts warning

Bitget-RWA2025/12/12 14:22
COAI Experiences Significant Price Decline in Late November 2025: Is the Market Overreacting or Does This Present a Contrarian Investment Chance?

Hyperliquid (HYPE) Price Rally: An In-Depth Look at Protocol Advancements and Liquidity Trends

- Hyperliquid's HYPE token surged 3.03% amid HIP-3 upgrades enabling permissionless perpetual markets and USDH stablecoin launch. - Protocol innovations boosted liquidity by 15% but failed to halt market share erosion to under 20% against competitors like Aster. - Structural challenges persist through token unstaking, unlocks, and OTC sales, yet HyENA's $50M 48-hour volume signaled renewed engagement. - Whale accumulation of $19.38M near $45-46 and HYPE buybacks aim to stabilize price, though long-term suc

Bitget-RWA2025/12/12 14:22
Hyperliquid (HYPE) Price Rally: An In-Depth Look at Protocol Advancements and Liquidity Trends

ChainOpera AI Token Plummets Unexpectedly: Is This a Warning Sign for Crypto Investors Focused on AI?

- ChainOpera AI's 96% value collapse in late 2025 exposed critical risks in centralized, opaque AI-driven crypto projects. - 87.9% token concentration in ten wallets enabled manipulation, while untested AI algorithms and lack of audits eroded trust. - Regulatory ambiguity from delayed U.S. CLARITY Act and EU AI Act created fragmented frameworks, deterring institutional participation. - Post-crash trends prioritize decentralized governance, auditable smart contracts, and compliance with AML/KYC protocols fo

Bitget-RWA2025/12/12 14:02
ChainOpera AI Token Plummets Unexpectedly: Is This a Warning Sign for Crypto Investors Focused on AI?

Modern Monetary Theory and the Transformation of Cryptocurrency Valuation Models in 2025

- Modern Monetary Theory (MMT) reshaped crypto valuation in 2025, transitioning digital assets from speculative tools to institutional liquidity instruments amid low-yield environments. - Central banks and 52% of hedge funds adopted MMT-aligned CBDCs and regulated stablecoins, with BlackRock's IBIT ETF managing $50B as crypto gained portfolio diversification status. - Regulatory divergence (e.g., U.S. CLARITY Act vs. New York BitLicense) created volatility, exemplified by the Momentum (MMT) token's 1,300%

Bitget-RWA2025/12/12 13:42
Modern Monetary Theory and the Transformation of Cryptocurrency Valuation Models in 2025
© 2025 Bitget