Hong Kong is experiencing a significant revival in its cryptocurrency sector, with numerous firms returning to the city after previously relocating operations to Singapore.&nbsp; 
As Hong Kong approaches the 27th anniversary of its return to Chinese sovereignty, its financial sector is demonstrating robust growth, particularly in digital assets. Since setting its goal to become a crypto center in 2022, Hong Kong has hosted multiple digital economy conferences, attracting key industry leaders. 
Moreover, Hong Kong’s appeal is further increased by its tax regime, which <a href="https://www.takungpao.com.hk/231106/2024/0629/985946.html" target="_blank" rel="noopener">releases</a> capital gains tax on virtual asset investments—a stark contrast to jurisdictions like Japan and Australia, where such taxes can reach up to 50% and 40%, respectively. 
Hong Kong has survived the previous crises and raised its supervision process by adopting virtual asset innovations like tokenized securities and stablecoins. Partnerships with financial supervisory authorities like the Securities and Futures Commission and the Hong Kong Monetary Authority foster financial instruments and stabilize market appeal and diversity. 
Hu Zhenbang, CFO of OSL Group, notes, “Hong Kong has great advantages in developing the virtual asset market.” 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 Also read: <a href="https://www.cryptotimes.io/2024/06/29/hong-kong-sfc-warns-against-virtual-asset-fraud-by-3-firms/">Hong Kong SFC Warns Against Virtual Asset Fraud by 3 Firms</a> 
</blockquote>

Hong Kong Regains Status as Crypto Hub as Crypto Firms Return Home

The Crypto Times

Các bài viết khác được xuất bản trên 29 thg 6, 2024

21Shares Joins the Race, Files Solana ETF Application

North Carolina CBDC Ban: What It Means for Crypto and Web3

41 Billion SHIB Mysteriously Sent to Leading US Exchanges – What's Happening?

Agata Listing On Τokpie Εxchange

Binance Referral Code – Use it to Reduce Fees and Receive Free Bonuses

Hamster Kombat Token Launch Echoes Buzz Across P2E Crypto Sector, Here’s Everything

Tham gia bản tin miễn phí của chúng tôi để cập nhật tin tức về tiền điện tử hàng ngày!