2027 Go Live! HK’s New Crypto Declaration & Reporting Framework Revealed – Essential Q&A Guide for Crypto Investors

Hong Kong’s government consultation on the Crypto Asset Reporting Framework (CARF) and CRS amendments directly impacts virtual asset holders and platforms. This organized English translation captures the document’s key Q&A structure, reflecting its original focus on declaration obligations, timelines, and investor preparations.​

Who Must Report?
Reporting Crypto Asset Service Providers (RCASPs) include entities handling crypto-to-fiat exchanges, crypto-to-crypto trades, trading platforms, ATMs, or market making. Retail payments over USD 50,000 trigger reporting, offering flexibility for smaller transactions.​

Reporting Nexus Rules
Hong Kong uses OECD’s hierarchical standards: tax residency first, then registration, management location, or permanent establishment. Multi-jurisdiction platforms report only at the highest nexus level, like Hong Kong for local tax residents.​

Timeline Essentials
Local platforms start CARF due diligence in 2027, with 2027 data exchanging internationally from 2028. Early preparation ensures compliance amid rising standards.​

Investor Action Steps
Review multi-jurisdiction tax residency and consult experts

Organize ID, residency proof, and tax numbers proactively

Select compliant platforms like EX.IO for secure trading

This framework positions crypto as mainstream finance; EX.IO leads with proactive compliance.