Hong Kong eyes tax breaks for crypto, more trading platform licenses by year-end: officials 🇭🇰

The Hong Kong government is looking to bolster its cryptocurrency market by proposing an extension of existing tax concessions. This initiative aims to cover investments in cryptocurrencies, indicating the government's supportive stance towards the digital currency industry. Such tax benefits are planned to be implemented by the end of this year.

Additionally, Hong Kong aims to issue more licenses for cryptocurrency trading platforms as it seeks to establish itself as a friendly jurisdiction for crypto businesses. The move could attract more crypto investments and enhance the city's status as a hub for digital assets.