Hong Kong to Implement CRS 2.0 for Crypto Asset Reporting by 2028
CRS 2.0 will expand financial asset reporting to include crypto assets, central bank digital currencies (CBDCs), and certain electronic money products. According to NS3.AI, retail payment transactions of $50,000 or more will be subject to case-by-case reporting. Hong Kong aims to implement CRS 2.0 by 2028 and simultaneously advance the Crypto-Asset Reporting Framework. Mainland China has not yet announced an official timeline, but tax authorities in multiple regions have been contacting taxpayers since 2025 to self-report overseas income for the 2022–2024 tax years.
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