Hong Kong plans to waive tax on investment gains from cryptocurrencies and other alternative assets for hedge funds, private equity funds and certain family offices as the city strives to enhance its appeal as a wealth management hub.

Hong Kong’s new tax policy aims to exempt crypto gains tax for hedge funds, private equity funds, and other institutional investors. The proposal, if approved,

Hong Kong proposes tax exemptions on crypto gains for hedge funds and family offices to strengthen its position as a global financial and crypto hub.

Hong Kong plans crypto tax exemptions for funds to enhance its status as an offshore financial hub, competing with Singapore.

Hong Kong is propoposing tax exemptions on crypto, private credit and other profits for funds and wealthy investors.

HKMA warns about unlicensed crypto firms misusing the term "bank," violating Hong Kong's Banking Ordinance and misleading consumers.Hong Kong's central bank said that two overseas crypto companies represented themselves as banks in Hong Kong.

HONG KONG (Reuters) -- Hong Kong plans to waive tax on investment gains from cryptocurrencies and other alternative assets for hedge funds, private equity funds and certain family offices as the city strives to enhance its appeal as a wealth management hub.

Hong Kong has sought to position itself as a centre for crypto businesses. Bitcoin has surged since Donald Trump won the US presidential election this month, with investors betting his return to the White House will boost the crypto industry after he championed it on the campaign trail.

Hong Kong has initiated plans to exempt private equity funds, hedge funds, and billionaires from paying taxes on realized gains from crypto investments. The policy changes could see Hong Kong emerge as a competitive rival against Singapore and Switzerland in the race for the top offshore financial hub.