Hong Kong plans to waive tax on investment gains from cryptocurrencies and other alternative assets for hedge funds, private equity funds and certain family offices as the city strives to enhance its appeal as a wealth management hub.

Hong Kong’s new tax policy aims to exempt crypto gains tax for hedge funds, private equity funds, and other institutional investors. The proposal, if approved,

Hong Kong has sought to position itself as a centre for crypto businesses. Bitcoin has surged since Donald Trump won the US presidential election this month, with investors betting his return to the White House will boost the crypto industry after he championed it on the campaign trail.