Hong Kong has initiated plans to exempt real capital gains from cryptocurrency investments for hedge funds, private equity funds, and billionaires.
Hong Kong has initiated plans to exempt real capital gains from cryptocurrency investments for hedge funds, private equity funds, and billionaires. This measure aims to compete with Singapore and Switzerland as major international financial centers. China is also reviewing tax reforms to expand tax-free investment opportunities. Recently, China has altered its approach to digital assets. Despite previously declaring crypto transactions illegal following Donald Trump’s victory in the U.S. elections, a Shanghai court recently recognized the legality of personal ownership of digital assets. Although commercial use of cryptocurrencies remains prohibited in China, these changes could improve the industry’s outlook in the future.
Source: unlock-bc.com
