Hong Kong is set to finalize stablecoin regulations by year-end and is considering new tax incentives for cryptocurrency investors.
Author: Tanishq Bodh
Written On: Tue, 29 Oct 2024 10:02:01 GMT
Hong Kong is set to finalize its stablecoin regulations by year-end, as officials move forward with plans to establish the city as a crypto-friendly investment hub. At Hong Kong Fintech Week, both the Hong Kong Monetary Authority (HKMA) and the Treasury provided updates on the ongoing regulatory efforts and potential tax incentives aimed at attracting cryptocurrency investors.
Hong Kong’s regulatory diligence has led some exchanges to abandon their applications, yet three licensed crypto trading platforms currently operate in the city. The government’s efforts suggest a continued push to attract crypto investments while enforcing robust regulatory measures.
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