The Hong Kong Treasury plans to promote a framework for declaring encrypted assets, with the goal of achieving cross-border tax information exchange by 2028

The Financial Services and the Treasury Bureau of Hong Kong plans to submit legislative proposals to the Legislative Council this year to implement the revised framework for declaring encrypted assets and common reporting standards developed by the Organisation for Economic Co operation and Development. The goal is to automatically exchange tax information related to encrypted asset transactions with other tax jurisdictions from 2028, in order to combat cross-border tax evasion and improve international tax transparency. We are currently collecting public opinions on legislative proposals.