The Hong Kong government will introduce a bill in its legislature June 3 to implement a framework providing the automatic exchange of tax information on crypto-asset transactions with relevant jurisdictions annually.

The bill aims to incorporate the OECD’s Crypto-Asset Reporting Framework and latest amendments to the Common Reporting Standard on new digital financial products, enhanced reporting, and due diligence requirements, the Financial Services and the Treasury Bureau said in a press release Wednesday.

The CARF will require crypto-asset service providers with a reporting nexus to Hong Kong to register with the Inland Revenue Department, conduct due diligence, file returns, and …