Shenchao TechFlow news: On June 27, according to Hong Kong media Ming Pao, Hong Kong Legislative Council member Jian Huimin revealed that the “Taxation (Amendment) (Automatic Exchange of Information) Ordinance 2026” was passed by the Legislative Council last week. The bill for the Crypto-Asset Reporting Framework (CARF) has entered the deliberation stage. Jian Huimin said that between 2018 and 2025, the Hong Kong government has recovered a cumulative amount of taxes and fines exceeding HK$100 million, and it is expected that an additional approximately 8,000 financial institutions will be required to register in the future.

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