Futures
Access hundreds of perpetual contracts
CFD
Gold
One platform for global traditional assets
Options
Hot
Trade European-style vanilla options
Unified Account
Maximize your capital efficiency
Demo Trading
Introduction to Futures Trading
Learn the basics of futures trading
Futures Events
Join events to earn rewards
Demo Trading
Use virtual funds to practice risk-free trading
Launch
CandyDrop
Collect candies to earn airdrops
Launchpool
Quick staking, earn potential new tokens
HODLer Airdrop
Hold GT and get massive airdrops for free
Pre-IPOs
Unlock full access to global stock IPOs
Alpha Points
Trade on-chain assets and earn airdrops
Futures Points
Earn futures points and claim airdrop rewards
Promotions
AI
Gate AI
Your all-in-one conversational AI partner
Gate AI Bot
Use Gate AI directly in your social App
GateClaw
Gate Blue Lobster, ready to go
Gate for AI Agent
AI infrastructure, Gate MCP, Skills, and CLI
Gate Skills Hub
10K+ Skills
From office tasks to trading, the all-in-one skill hub makes AI even more useful.
GateRouter
Smartly choose from 40+ AI models, with 0% extra fees
Hong Kong's first CRS criminal case conviction announced, mandatory reporting of crypto assets included in CRS 2.0
ME News Report, May 15 (UTC+8), a private banking client was sentenced to immediate imprisonment for 6 months and fined HKD 500k by a Hong Kong court for deliberately providing false information in the Common Reporting Standard (CRS) declaration. This is the first case in Hong Kong to be criminally convicted for violating CRS rules, marking a strict enforcement phase of cross-border tax information reporting in Hong Kong.
Meanwhile, the CRS 2.0 framework is accelerating its implementation in Hong Kong. CRS 2.0 is a comprehensive revision of the original CRS rules by the Organisation for Economic Co-operation and Development (OECD), jointly forming an upgraded global automatic exchange of tax information system with the Crypto Asset Reporting Framework (CARF). The framework officially took effect on January 1, 2026.
In Hong Kong, the "Tax (Amendment) (Automatic Exchange of Financial Account Information) Bill 2026" was gazetted on March 27, 2026, and submitted for first reading to the Legislative Council on April 1. It is expected to be implemented starting January 1, 2027. According to the Hong Kong Financial Services and the Treasury Bureau, the government plans to complete CARF legislation within 2026 and initiate the first cross-border exchange of crypto asset information in 2028.
Key changes in CRS 2.0 include: first, explicitly including digital assets such as cryptocurrencies, stablecoins, crypto derivatives, and some NFTs within the scope of mandatory reporting, requiring crypto trading platforms, custodians, and related funds to perform KYC obligations and report information to tax authorities; second, requiring dual tax residents to report account information to all relevant jurisdictions simultaneously, prohibiting "selective reporting"; third, strengthening the transparency of offshore shell companies, family trusts, and other structures by requiring identification and reporting of the ultimate beneficial owners. (Source: Caixin)