[Hong Kong Crypto Asset Reporting Framework Bill Enters Review Stage]
According to Ming Pao, Hong Kong Legislative Council member Eunice Yung revealed that the Crypto Asset Reporting Framework (CARF) bill has entered the review stage. Eunice Yung stated that between 2018 and 2025, the Hong Kong government is expected to recover over HK$100 million in taxes and fines, with an estimated additional 8,000 financial institutions required to register mandatorily in the future.