Hong Kong lawmakers pass bill adopting OECD crypto tax reporting rules

Crypto exchanges and brokers with Hong Kong ties will collect user transaction data for tax authorities starting January 1, 2027 Hong Kong’s Legislative Council has passed a bill that will require crypto service providers to collect customer transaction data and hand it to the city’s tax authority. The rules take effect on January 1, 2027. The law does not create a new crypto tax. It makes sure the existing tax system can actually see what people are doing with their digital assets. What the bill actually does The legislation carries a name only a tax lawyer could love: the Inland Revenue (Amendment) (Crypto-Asset Reporting Framework and Amended Common Reporting Standard) Bill 2026. LegCo passed it on November 4, 2026. The bill brings Hong Kong into line with the Crypto-Asset Reporting Framework, or CARF, which the OECD introduced in 2023. CARF is a template for countries that want crypto platforms to report user activity to governments. Under the new rules, businesses classed as reporting crypto-asset service providers, or RCASPs, must run due diligence on their customers. RCASPs are the exchanges, brokers and similar intermediaries with a connection to Hong Kong. They must then r...