Hong Kong's Crypto Asset Reporting Framework Bill Enters Legislative Review as 8,000 Financial Institutions to Register

According to Hong Kong lawmaker Edith Chow, the Crypto Asset Reporting Framework (CARF) bill entered the legislative review stage last week, following the passage of the 2026 Tax (Amendment) (Automatic Exchange of Information) Ordinance. From 2018 to 2025, Hong Kong authorities recovered over HK$100 million in taxes and penalties combined. An estimated 8,000 additional financial institutions are expected to be required to register under the new framework.
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