At Hong Kong Fintech Week on October 28, 2024, Christopher Hui, Secretary for Financial Services and the Treasury, announced that virtual assets may be included in a new set of tax concessions aimed at institutional investors. Other proposed investment types for tax breaks include overseas immovable property, emission derivatives, insurance-linked securities, interests in non-corporate private entities, loans, and private credit investments. Hui emphasized the potential of these measures to stimulate market development, noting societal demand for tax breaks in the crypto sector. Additionally, he mentioned forthcoming regulatory updates for stablecoin issuers, OTC trading services, and custodians to better align service regulations and further foster market growth. Currently, tax concessions exist for privately offered funds and family-owned investment holding vehicles, marking an expansion in scope with the proposed changes.

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