Hong Kong Crypto Asset Reporting Framework Bill Enters Deliberation Stage

Odaily reported that Hong Kong Legislative Council member Kit Lam Mun revealed that the "Inland Revenue (Amendment) (Automatic Exchange of Information) Bill 2026" was passed by the Legislative Council last week, and the Crypto Asset Reporting Framework (CARF) bill has entered the deliberation stage. Kit Lam Mun stated that between 2018 and 2025, the Hong Kong government has recovered over HK$100 million in taxes and fines, and it is estimated that an additional approximately 8,000 financial institutions will be required to register. (Ming Pao)