Hong Kong plans to waive tax on investment gains from cryptocurrencies and other alternative assets for hedge funds, private equity funds and certain family offices as the city strives to enhance its appeal as a wealth management hub.

Hong Kong’s new tax policy aims to exempt crypto gains tax for hedge funds, private equity funds, and other institutional investors. The proposal, if approved,

Hong Kong has initiated plans to exempt private equity funds, hedge funds, and billionaires from paying taxes on realized gains from crypto investments. The policy changes could see Hong Kong emerge as a competitive rival against Singapore and Switzerland in the race for the top offshore financial hub.