Hong Kong unveils AI policy for the financial sector and proposes to extend cryptocurrency tax breaks

Hong Kong, China, has published its first policy guide dedicated to the use of artificial intelligence in the financial sector and proposed tax breaks for virtual assets, as it works to build the city into an Asian business hub. Hong Kong government officials on Monday touted a common framework through which different regulators can develop policies governing the use of artificial intelligence, which is seen as key to the future of finance and other industries. They also proposed extending tax breaks on ownership of digital assets such as cryptocurrencies and promised legislation by the end of the year. (Bloomberg)