Public announcements or press releases from hedge funds

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

Nov 28, 2024, 06:30 AM

Hong Kong is planning to exempt private equity funds, hedge funds, family offices, and investment vehicles of high-net-worth individuals from taxes on gains from cryptocurrencies, including Bitcoin, according to the Financial Times. The initiative aims to eliminate capital gains tax on crypto investments to attract asset management companies and bolster the city's position as a premier offshore finance hub. The proposed tax exemptions may also extend to private credit investments and other assets, signaling Hong Kong's commitment to becoming a global cryptocurrency and finance center.