Hong Kong Treasury Policy Brief: Implementation of Cryptocurrency Asset Reporting Framework, Advancing 2028 Cross-Border Cryptocurrency Asset Transaction Tax Information Exchange

BlockBeats News, January 28, the Financial Affairs Committee of the Hong Kong Legislative Council announced that a briefing will be held on January 30, with the Hong Kong Financial Services and the Treasury Bureau providing a policy update. Secretary for Financial Services and the Treasury Christopher Hui and Deputy Secretary Alan Lo will attend. According to the relevant documents: To promote the sustainable and healthy development of the digital asset industry in Hong Kong and further consolidate Hong Kong's status as an international financial center, legislative proposals will be submitted to the Legislative Council this year to implement the Financial Action Task Force's cryptocurrency declaration framework and common reporting standards. The goal is to automatically exchange tax information related to cross-border cryptocurrency transactions with other tax jurisdictions from 2028 onwards to combat cross-border tax evasion activities and enhance international tax transparency. Public feedback is currently being sought on the legislative proposals.