Hong Kong passes crypto-asset reporting framework; South Korea delays crypto gains tax to 2029

Hong Kong's Legislative Council passed the Tax (Amendment) Bill 2026 on November 4, introducing the Crypto-Asset Reporting Framework (CARF). Service providers will begin collecting customer and transaction data in 2027, with automatic information exchange starting in 2028. The next day, South Korea announced a two-year delay of its personal cryptocurrency gains tax to 2029, citing insufficient cross-border data exchange and enforcement readiness. The article explains CARF's scope, tax treatment of crypto-to-crypto swaps, loss carryforward, and tax residency, emphasizing that visible transaction data does not mean every transaction will be taxed.