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What will be the impact of Hong Kong's AI finance policy on local financial institutions by October 2025?
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Story
Hong Kong Unveils AI Finance Policy, Proposes Crypto-Friendly Tax-Free Gains
Oct 28, 2024, 04:35 AM
Hong Kong has unveiled its first policy guidelines dedicated to the use of artificial intelligence (AI) in finance and proposed crypto-friendly tax breaks for virtual assets. These measures are part of Hong Kong's efforts to strengthen its position as a global financial hub. The new AI policy aims to provide a clear framework for the integration of AI in financial services, while the proposed tax breaks are designed to attract more investments in the cryptocurrency sector by offering tax-free gains. The initiatives reflect Hong Kong's commitment to fostering a business-friendly environment with regulations to maintain its status as a nexus where East meets West in finance.
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