Hong Kong authorities have introduced their first policy guidelines focused on the use of AI in finance and proposed a tax incentive for virtual assets, aiming to strengthen its position as a business hub in Asia. In his keynote speech at Hong Kong’s Fintech Week, Secretary for Financial Services and the Treasury, Christopher Hui, announced that the government is considering extending a tax break on digital asset ownership, including cryptocurrencies, with plans for legislation by the end of the year. He also touted the development of a unified framework, enabling various regulatory bodies to establish policies governing AI—a technology seen as key for the future of finance and other industries. Hui said: “Hopefully, by expanding the availability of tax concessions to this wider scope of assets eligible under our fund regime and our family office regime, we will be able to add that extra impetus and pull to this [Hong Kong] market on their development front.” Hong Kong set to license more crypto exchanges At the same event, Hong Kong’s Securities and Futures Commission (SFC) announced plans to license additional cryptocurrency exchanges by the end of 2024.
Hong Kong Unveils Ai Finance And Possible Crypto Tax Break Policy
Suswati Basu, ReadWriteWeb
Mon, 10/28/2024 - 5:21am
Topics: hong kong s fintech week secretary financial services treasury christopher hui ai—a hui hong kong s securities futures commission sfc eric yip sfc s executive director intermediaries hashkey osl—have yip separately monday oct hong kong exchanges clearing ltd virtual asset index series in may bitcoin btc ethereum eth etfs featured canva hong kong ai asia hui sfc yip sfc s bitcoin ether readwrite the
BING NEWS:
- Hong Kong introduces AI framework, crypto tax incentives
This AI policy comes as Hong Kong navigates a complicated global environment marked by rapid technological changes and ongoing U.S.-China tech tensions. While the city’s consumers face restrictions ...
10/28/2024 - 9:55 am | View Link - Hong Kong Unveils AI Guidelines For Finance and Crypto Tax Breaks
Hong Kong has announced new guidelines focused on AI usage in the financial sector and has proposed tax breaks on cryptocurrency holdings.
10/28/2024 - 3:28 am | View Link - Hong Kong announces crypto tax breaks, AI policies to boost finance sector
Hong Kong has unveiled new proposals and policies targeting the crypto and AI sectors as a part of its efforts to bolster its financial services sector.
10/28/2024 - 3:13 am | View Link - Hong Kong unveils AI finance and possible crypto tax break policy
Hong Kong reveals AI finance policies and proposes crypto tax breaks, aiming to enhance its position as Asia’s business center.
10/28/2024 - 1:54 am | View Link - Hong Kong Unveils AI Policy for Finance, Floats Tax Breaks for Crypto
Hong Kong outlined its first policy guidelines dedicated to the use of AI in finance and floated a tax break for virtual assets, part of efforts to promote itself as an Asian business center.
10/27/2024 - 4:58 pm | View Link - More
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