Article
Preparing For The Crypto-Asset Reporting Framework And The Related Amendments To The CRS And AEOI Frameworks In Hong Kong
Hong Kong has introduced sweeping reforms to its automatic exchange of information framework, implementing both the OECD's Crypto-Asset Reporting Framework (CARF) and an enhanced Common Reporting Standard (CRS 2.0). These changes mandate registration for all reporting financial institutions, impose stringent due diligence requirements on crypto-asset service providers, and expand tax transparency to cover digital money products and crypto-related investment activities.
Withers LLP
