Hong Kong Financial Services and the Treasury Bureau Policy Measures Brief: Implementing the Crypto Asset Declaration Framework and Promoting Automatic Exchange of Tax Information on Cross-Border Crypto Asset Transactions by 2028

The Hong Kong Legislative Council's Financial Affairs Committee announced that a briefing will be held on January 30, with the Hong Kong Financial Services and the Treasury Bureau presenting policy measures. Secretary for Financial Services and the Treasury, Christopher Hui, and Deputy Secretary, Chan Ho-lam, will attend.

Relevant documents state: In order to promote the sustainable and healthy development of the digital asset industry in Hong Kong and further consolidate Hong Kong's position as an international financial center, legislative proposals will be submitted to the Legislative Council this year to implement revisions related to the crypto asset reporting framework and common reporting standards established by the Organisation for Economic Co-operation and Development. The goal is to automatically exchange tax information related to crypto asset transactions with other tax jurisdictions starting in 2028, in order to combat cross-border tax evasion and enhance international tax transparency. Public opinions are currently being collected on the legislative proposals.