Buy Crypto
Pay with
USD
USD
Buy & Sell
Hot
Supports Visa, Mastercard, SEPA & more
P2P
0 Fees
Flexible trading, zero fees
Gate Card
Use your crypto for payments worldwide
Markets
Trade
Basic
Advanced
Futures
Futures
Access hundreds of perpetual contracts
CFD
Gold
One platform for global traditional assets
Options
Hot
Trade European-style vanilla options
Unified Account
Maximize your capital efficiency
Demo Trading
Introduction to Futures Trading
Learn the basics of futures trading
Futures Events
Join events to earn rewards
Demo Trading
Use virtual funds to practice risk-free trading
Stocks
CFD
U.S. stock CFD derivatives
US Stocks
Access real US stocks and ETFs
HK Stocks
Trade quality Hong Kong-listed stocks
Korean Stocks
SK Hynix
Real Korean stocks and top assets
Stock Futures
High leverage, 24/7 trading
Tokenized Stocks
Backed by real stock assets
IPO Access
Unlock full access to global stock IPOs
GUSD
Mint GUSD for Treasury RWA yields
Stocks Activities
Trade Popular Stocks and Unlock Generous Airdrops
Earn
Launch
CandyDrop
tag
Collect candies to earn airdrops
Launchpool
Quick staking, earn potential new tokens
HODLer Airdrop
Hold GT and get massive airdrops for free
IPO Access
Unlock full access to global stock IPOs
Alpha Points
Trade on-chain assets and earn airdrops
Futures Points
Earn futures points and claim airdrop rewards
Investment
Square
Square
Post, share, and explore crypto trends
Live
moments live
Live crypto market analysis
Chat
Chat with crypto traders
News
What is happening in crypto
flower_head
More
Promotions
AI
Others
TradFi
2026 World Cup
Rewards

Hong Kong's First CRS Criminal Conviction: Fake Reporting on Crypto Assets Nets 6-Month Prison, HK$500K Fine

GateNews
Enforcement ActionsRegulation & Policy
ON-0.30%
IN-1.54%
SIX0.38%
According to Caixin, a private banking client in Hong Kong received a six-month prison sentence and a HK$500,000 fine for providing false information in CRS (Common Reporting Standard) filings, marking the city's first criminal conviction under CRS rules. CRS 2, the revised version of the OECD Common Reporting Standard and the Crypto-Asset Reporting Framework (CARF), took effect on January 1, 2026. Hong Kong's government published draft amendments on March 27, 2026, submitting them to the Legislative Council on April 1, with implementation expected January 1, 2027. CRS 2 explicitly requires mandatory reporting of cryptocurrencies, stablecoins, crypto derivatives, certain NFTs, central bank digital currencies, and specific e-money products. Crypto exchanges, custodians, and related funds must fulfill KYC obligations and report to tax authorities.
View Source
Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

Related News

05-15 00:28
Myanmar Proposes Death Penalty for Criminals Using Violence to Force Victims Into Crypto Fraud Centers
05-14 13:14
China's April Mortgage Loan Rate Stays at 3.1%, Down 6 Basis Points Year-over-Year
05-14 09:12
China's Central Bank: April Interbank Lending Rate Drops to 1.29%, Down 0.44% Year-over-Year
05-14 04:13
CNH HIBOR Overnight Rate Falls 4bp to 1.33576% on May 14, One-Week and Two-Week Rates Hit Lowest Since May 6
05-14 00:40
Celsius Former CRO Cohen-Pavon Agrees to Transfer $1.07M in Criminal Proceeds Ahead of Sentencing
In-Depth Analysis

Banco Topazio commits violations in crypto transactions worth $1.7 billion; Brazil’s central bank imposes a two-year ban

Market Whisper05-15 03:13

Myanmar plans to use “the death penalty” to punish violent offenders at crypto scam centers; the bill will be submitted to the parliament in June

Market Whisper05-15 01:52

Brazil Slaps Banco Topazio With $3.2M Fine and 2-Year Crypto Trading Ban

Coinpedia05-14 23:40
Comment
0/400
No comments