A single transaction of $50k must be reported; retail investors can forget about hiding.

CRS 2.0 global tax system accelerates, including cryptocurrency assets, CBDCs, and other financial assets in reporting. Hong Kong plans to implement and launch CARF before 2028; exchanges are required to report on cryptocurrency and fiat currency exchanges, cross-currency swaps, and domestic and international asset transfers, labeling each by currency and reporting based on market value, holdings, and trading volume. Retail transactions exceeding $50k are also to be reported. Mainland China has no clear timetable yet, but from 2025 onward, multiple regions are urging the reporting of previous years' offshore income. CRS 2.0 will incorporate offshore holdings into regulation and may trigger investigations by other departments.