The Global Tax Net Tightens: CRS 2.0 Brings Crypto Assets Under Direct Scrutiny

The global tax transparency framework is undergoing a major expansion. CRS 2.0, now rolling out worldwide, will soon mandate reporting for crypto assets and central bank digital currencies. Hong Kong plans implementation by 2028, requiring exchanges and brokers to detail transactions. While mainland China hasn't set a timeline, tax authorities have begun notifying residents to declare foreign income, marking a new era of financial visibility.

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