Adiós al anonimato: Hong Kong entregará a las agencias tributarias los datos de los usuarios cripto

The Hong Kong Legislative Council has approved new OECD standards, mandating digital asset platforms to collect reporting data from users next year. Automatic cross-border tax data sharing with other countries will commence in 2028. The Legislative Council has passed the Internal Revenue (Crypto Assets Information Framework and Common Reporting Standard Amended) Amendment Bill, aligning Hong Kong with the latest guidelines from the Organization for Economic Co-operation and Development (OECD).

The initiative incorporates two key tools developed by the OECD in 2023: the Crypto Assets Reporting Framework (CARF) for automatic and annual reporting of cryptocurrency transactions, and the updated Common Reporting Standard (CRS) which extends due diligence on traditional financial accounts to new digital products. Local government officials celebrated the parliamentary decision, with Christopher Hui, Secretary for Financial Services and the Treasury, emphasizing that fiscal transparency is essential for the region's global competitiveness.

Hui noted that implementing these latest standards is crucial to maintaining Hong Kong's reputation as an international financial and commercial hub. The official added that aligning local rules with OECD standards will provide certainty and strengthen confidence among crypto service providers, financial institutions, and users to operate and invest in Hong Kong on a long-term basis.

The regulation will not take effect immediately but through a phased schedule allowing the sector to adapt. Authorities specified that the transfer of financial data will be carried out under a strict reciprocity principle, ensuring user information confidentiality and cybersecurity. Recognizing the operational complexity for crypto firms to adapt to these compliance demands, the Inland Revenue Department (IRD) announced the establishment of a specialized technical team to address industry queries, alongside the upcoming publication of operational guidelines.

Hong Kong has been exchanging bank information automatically since 2018 under the original CRS model. With this new legislation, the financial enclave aims to shed any "tax haven" label for digital capital, positioning itself as a regulated, transparent technology hub under the global tax scrutiny microscope.