Calix: CARF is essentially the 'crypto version of CRS,' and Hong Kong is entering the countdown to implementation. Fintax founder Calix explained the concept of CARF during an interview with Wu Talk, describing it as the 'cryptocurrency version of CRS.' The goal is to address tax evasion risks associated with the high anonymity of crypto assets through a reporting and exchange mechanism similar to CRS. He outlined Hong Kong's compliance implementation timeline in detail: legislation is expected to be completed by 2026, local financial institutions will begin collecting user transaction data on January 1, 2027, and the first cross-border information exchange is planned for September 2028. The video and written content represent the interviewee's views only and do not reflect Wu Talk's stance.