Hong Kong passes law requiring crypto exchanges to report customer transactions to tax authorities

Hong Kong’s legislature passed a law requiring crypto exchanges to collect customer and transaction data starting in 2027, with the information to be shared with overseas tax authorities from 2028. The rules bring digital-asset trading venues into the same reporting framework long applied to traditional financial institutions, extending tax transparency to crypto activity booked in the territory. Exchanges will need to upgrade onboarding and record-keeping systems to capture the required customer and transaction details before the 2027 deadline. The law matters because Hong Kong is a major gateway for crypto firms serving global clients, and cross-border data sharing from 2028 could expose previously unreported trading activity to foreign tax collectors. What to watch next is how exchanges based in the city implement the collection requirements and whether other jurisdictions adopt similar reporting standards.