Hong Kong launches public consultation on revisions related to the implementation of the crypto asset declaration framework and common reporting standards According to BlockBeats, on December 9th, the Hong Kong SAR government of China launched a public consultation today on the implementation of the cryptocurrency asset declaration framework issued by the Organization for Economic Cooperation and Development (OECD) and revisions related to the Common Reporting Standard in Hong Kong. The OECD will release a declaration framework in 2023, allowing partner tax jurisdictions to automatically exchange tax information related to cryptocurrency transactions annually, and incorporating new digital financial products and optimized declaration and due diligence requirements into common reporting standards. The Hong Kong government plans to complete the necessary local legislative revisions within next year, with the goal of automatically exchanging tax information related to cryptocurrency transactions with relevant partner tax jurisdictions starting from 2028, and implementing the newly revised common reporting standards starting from 2029. Hong Kong will automatically exchange tax information with suitable partners under the principle of reciprocity, and partners must meet standards related to data confidentiality and security protection. The public is welcome to submit their opinions on various suggestions on or before February 6, 2026.