Hong Kong Eliminates Crypto Capital Gains Tax for Hedge Funds to Become Global Crypto Hub

Nov 28, 2024, 09:54 AM

Hong Kong is planning to eliminate capital gains taxes on cryptocurrencies, including Bitcoin, for hedge funds, private equity funds, and investment vehicles of billionaire families, according to the Financial Times. This move aims to attract asset management companies and high-net-worth investors by creating a favorable tax environment, positioning Hong Kong as a premier offshore finance hub and global crypto hub. The proposed tax exemptions are part of the government's strategy to compete with other financial centers like Singapore.