[Hong Kong Launches Public Consultation on Tax Ordinance Amendment, Plans to Automatically Exchange Crypto Asset Tax Data Starting in 2028] The Hong Kong government has launched a public consultation to amend the Tax Ordinance in order to implement the Crypto-Asset Reporting Framework and the newly revised Common Reporting Standard developed by the Organisation for Economic Co-operation and Development (OECD). This initiative aims to enhance tax transparency, combat cross-border tax evasion, and strengthen Hong Kong's position as an international financial and business hub. According to the plan, starting in 2028, Hong Kong will automatically exchange tax data related to crypto asset transactions with relevant tax jurisdictions, and the newly revised Common Reporting Standard will be implemented starting in 2029. Additionally, the government proposes mandatory registration for financial institutions, increased penalties, and optimized enforcement mechanisms to address the OECD's second-round evaluation of Hong Kong's administrative framework beginning in 2024. The public can submit opinions via mail or email by February 6, 2026. Detailed information can be found on the website of the Financial Services and the Treasury Bureau.