Woofun AI reports that the Crypto Asset Reporting Framework Bill has entered the review stage within the Hong Kong Legislative Council. This development follows the council's approval of the "2026 Taxation (Amendment) (Automatic Exchange of Information) Bill" last week. Legislative Council member Jan Wai-man noted that tax and fine recoveries from 2018 to 2025 exceeded 100 million Hong Kong dollars, projecting that approximately 8,000 financial institutions will face compulsory registration requirements.