Hong Kong passes law requiring crypto exchanges to report tax data from 2027
Briefing by News4U · First published
Hong Kong has passed a law requiring cryptocurrency exchanges and other covered providers to collect customer and transaction data for tax purposes from 2027, with automatic sharing to overseas tax authorities beginning in 2028, CoinDesk reported. The rules adopt the OECD Crypto-Asset Reporting Framework and cover purchases, sales, crypto-to-crypto trades and transfers to external wallets. Covered firms must record customers' names, addresses, tax residency and identification numbers. Financial Services Secretary Christopher Hui said the rules would help combat cross-border tax evasion, and the Inland Revenue Department said it will issue guidance and technical support for compliance. [1]