Hong Kong to Waive Tax on Crypto Gains for Sophisticated Investors

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Decrypt 13h ago

Hong Kong to Waive Tax on Crypto Gains for Sophisticated Investors - Decrypt

Quick Summary:

Hong Kong's proposal also includes tax exemptions to pension and endowment funds, expanding the range of assets covered under existing law.

Last year, the government implemented a licensing framework for virtual asset trading platforms under the Securities and Futures Commission.

It comes amid a surge in institutional interest for the asset class this year, which kicked into gear with the approval of multiple spot Bitcoin exchange-traded funds in the U.S.in January.