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A new crypto license will appear in Hong Kong

A new crypto license will appear in Hong Kong

Hong Kong is preparing for the introduction of a special licensing system for the exchange of cryptocurrency for fiat. Hong Kong’s main difference is the absence of capital gains tax on cryptocurrencies and other virtual assets.

With its tax advantage, Hong Kong’s crypto market can attract more investors. Therefore, such a move is aimed at making the city an attractive place for investments in virtual assets thanks to a favorable tax policy.

For investors who prioritize yield, Hong Kong’s low tax regime is a significant advantage. The attitude of the banking sector to virtual assets also plays a decisive role.

Hong Kong may soon introduce a licensing system for cryptocurrency exchanges. The government has already taken steps to combat money laundering and cyber threats, demonstrating its commitment to promoting standardization and exploring regulatory options for this market.

Unlike jurisdictions such as Singapore and the US, where licenses typically cover either cryptocurrencies or security tokens, Hong Kong licenses allow trading of both at the same time, so this dual capability simplifies transactions compared to the need to obtain separate licenses for such activities.

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