Hong Kong is considering waiving taxes on investment gains from digital currencies and alternative assets for institutional players, according to a joint consultation paper by Hong Kong’s Financial Services and the Treasury Bureau. The tax exemptions would be limited to hedge funds, family offices, and private equity funds. The proposal is part of Hong Kong's plans to improve its attractiveness to investors and establish itself as a global leader in wealth management. Meanwhile, a new report has found that digital currencies are thriving in India despite the country's stringent tax rules. India has been ranked as the country with the highest digital currency adoption rate in 2024, outperforming Nigeria and Indonesia. The country's young, tech-savvy population and growing interest in blockchain technology are driving the adoption of digital assets, despite the government's harsh tax system to stifle their adoption. However, analysts believe that the Indian digital currency space has not yet reached its full potential and call for a comprehensive regulatory framework that addresses the current taxation structure.



Other News from Today