Hong Kong vs Liberia
Crypto regulation comparison
Hong Kong
Liberia
Legal
Restricted
Hong Kong has positioned itself as a major crypto hub in Asia with a comprehensive licensing regime. The SFC implemented a mandatory licensing framework for virtual asset trading platforms (VATPs) effective June 2023. Hong Kong has no capital gains tax, making it attractive for crypto investors and businesses.
The CBL has not issued crypto licenses and considers unauthorized crypto products illegal. No specific crypto legislation exists but the Financial Institutions Act requires licensing for all financial services.
Tax Type
No tax
Tax Type
None
Tax Rate
0%
Tax Rate
N/A
Exchanges
Yes
Exchanges
Yes
Mining
Yes
Mining
Yes
Regulator
SFC (Securities and Futures Commission), HKMA
Regulator
Central Bank of Liberia
Stablecoin Rules
HKMA developing a licensing regime for stablecoin issuers under a 2024 bill
Stablecoin Rules
No stablecoin regulation
Key Points
- Mandatory VATP licensing regime under the AMLO effective June 1, 2023
- No capital gains tax in Hong Kong; profits tax applies only to business profits
- SFC approved spot Bitcoin and Ether ETFs for retail investors in April 2024
- HKMA consulting on stablecoin issuer licensing under a dedicated bill
- Hong Kong actively competes with Singapore as Asia's leading crypto hub
Key Points
- CBL has not approved any crypto licensing
- Unauthorized crypto products deemed illegal under Financial Institutions Act
- CBL shut down local crypto startup TACC in 2021
- No specific crypto tax framework
- Very low crypto adoption due to limited internet access