Hong Kong Plans to Extend Tax Concessions for Crypto

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According to Christopher Hui, Secretary for Financial Services and the Treasury in Hong Kong, the government plans to extend current tax concessions offered to privately offered funds and family offices to include crypto investments.

He made this statement during a speech at Hong Kong Fintech Week and revealed that the extension of tax concessions for specific investments, such as cryptocurrencies, is expected to take effect by the end of the year.

This move is aimed at providing a boost to the development of the Hong Kong market and falls in line with the country’s efforts to welcome crypto firms. In June 2023, Hong Kong implemented a crypto licensing regime allowing licensed exchanges to offer retail trading services, with three licenses already granted to OSL Exchange, HashKey Exchange, and HKVAX.