[Hong Kong Launches Public Consultation on CARF Crypto Tax Information Exchange, Aiming for Implementation in 2028] According to a release by the Hong Kong Special Administrative Region Government, the Financial Services and the Treasury Bureau has launched a public consultation today, proposing amendments to the Inland Revenue Ordinance to adopt the OECD's Crypto-Asset Reporting Framework (CARF) and update the Common Reporting Standard (CRS). The authorities plan to complete the legislation by 2026, begin exchanging crypto asset tax information with eligible jurisdictions in 2028, and implement the updated CRS in 2029. The new regulations also propose mandatory registration for financial institutions, stricter penalties, and enhanced enforcement to align with OECD reviews and maintain Hong Kong's reputation as an international financial center. The latest OECD list shows that 76 countries have committed to sharing crypto data: 48 countries plan to implement it by 2027, 27 by 2028, and the United States targets 2029. Switzerland has postponed implementation to 2027; Brazil is considering joining; and the U.S. is evaluating the IRS proposal. Additionally, 53 countries have signed the Multilateral Competent Authority Agreement to enable automatic exchange.