According to @CoinMarketCap, Hong Kong has opened a public consultation to adopt the OECD Crypto-Asset Reporting Framework (CARF), targeting automatic cross-border crypto tax data exchange by 2028 (source: Hong Kong Government consultation announcement; @CoinMarketCap post dated Dec 11, 2025). The plan also sets implementation of the amended Common Reporting Standard (CRS) by 2029 (source: Hong Kong Government consultation announcement; @CoinMarketCap, Dec 11, 2025). Secretary for Financial Services and the Treasury Christopher Hui highlighted commitments to international tax cooperation and preventing cross-border tax evasion (source: statement in the Hong Kong Government consultation materials; @CoinMarketCap, Dec 11, 2025). Public feedback is open until February 6 (source: Hong Kong Government consultation notice; @CoinMarketCap, Dec 11, 2025). For traders and exchanges, CARF requires virtual asset service providers to conduct due diligence and report customers’ crypto-asset transactions to tax authorities once enacted, aligning Hong Kong with OECD standards and enabling automatic exchange of information among jurisdictions (source: OECD CARF 2022 framework; Hong Kong Government consultation announcement).