The OECD's Crypto-Asset Reporting Framework (CARF) aims to enhance global tax regulation on cryptocurrencies through cross-border information exchange. With 54 countries, including tax havens like the Cayman Islands and the UK, already signed on, Hong Kong plans to legislate CARF by 2026, start data collection in 2027, and begin exchanges in 2028. Although China has not signed the agreement, crypto gains are still taxable, and converting to fiat or cross-border transactions may trigger tax liabilities. High-net-worth individuals are advised to plan ahead. While CARF allows for retrospective asset tracking, data exchange typically does not occur for pre-signature holdings, and enforcement depends on information availability and regulatory strength. In Hong Kong, residents benefit from low tax burdens, with no capital gains tax and generally no additional taxes on crypto transactions, though salary tax and foreign trade rules apply. CARF focuses on monitoring crypto-to-fiat exchanges and on-chain transactions, emphasizing the need for compliant and strategic tax planning.