BlockBeats News, June 27th, according to Ming Pao, Hong Kong Legislative Council member Holden Chow revealed that the "Inland Revenue (Amendment) (Automatic Exchange of Financial Account Information) Bill 2026" was passed by the Legislative Council last week, and the Common Reporting Standard for Cryptographic Asset Tax Reporting Framework (CARF) Bill has entered the deliberation stage.

Holden Chow stated that between 2018 and 2025, the Hong Kong government has recovered over HK$100 million in taxes and penalties, and it is estimated that an additional 8,000 financial institutions will be required to undergo mandatory registration in the future.