Hong Kong's Cryptographic Asset Declaration Framework Bill has entered the review stage

According to Hong Kong media Ming Pao, Hong Kong Legislative Council member Jane Wai-min revealed that the "Taxation (Amendment)(Automatic Exchange of Information) Bill 2026" was passed by the Legislative Council last week and the Cryptographic Asset Declaration Framework (CARF) Bill has entered the review stage. Jane Wai-min said that the total amount of taxes and fines recovered by the Hong Kong government between 2018 and 2025 has exceeded HK$100 million, and it is expected that an additional 8000 financial institutions will have to be registered mandatory in the future.