Hong Kong Crypto Firms Push Back on OECD’s Global Surveillance Plan 🇭🇰

A regulatory fault line is forming in Asia.

Crypto companies in Hong Kong are openly challenging the OECD’s proposed Crypto-Asset Reporting Framework (CARF) — warning that rushing into it could create legal chaos rather than clarity.

CARF isn’t just “reporting.”

It’s a blueprint for global crypto surveillance: cross-border sharing of user identities and transaction data between governments.

The problem?

✔ Rules are still vague

✔ Guidance is fragmented

✔ And parts may clash with Hong Kong’s privacy and data-protection laws

That puts exchanges in a dangerous spot:

👉 Obey CARF and risk violating local law

👉 Follow local law and risk falling out of global compliance

For a city positioning itself as a top-tier crypto hub, this tension isn’t theoretical it’s existential.

As regulators tighten their grip, innovation hubs are starting to push back.

The real question is no longer if crypto will be regulated…

It’s who writes the rules and how far they go.

Is CARF the future of crypto oversight…

or the beginning of a global regulatory backlash?

This debate is just getting started.

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