Hong Kong’s Legislative Council passed a bill to implement OECD reporting standards for cryptoassets and financial accounts. Under the law, relevant cryptoasset service providers must collect specified transaction information from 2027; automatic exchanges of that data will begin in 2028. The updated Common Reporting Standard will take effect in 2028, with exchanges of financial account information under the revised rules beginning in 2029. Hong Kong will exchange information with relevant jurisdictions on a reciprocal basis, subject to confidentiality and information-security requirements.
