In brief In a new Fraud Strategy 2026 to 2029 document, the UK government has highlighted the “growing risk” posed by cryptocurrency. The report noted that crypto is increasingly part of "routine activity," but pointed to its role in facilitating investment fraud. Blockchain analysis

Written by: Liang Yu Edited by: Zhao Yidan In early March 2026, Hong Kong's Financial Services and the Treasury Bureau Secretary, Christopher Hui, announced a series of preferential tax measures aimed at funds, family investment control tools, and associated rights during a meeting of the Legislative Council's Finance Committee. According to reports from Zhitong Finance, these optimizations include six specific measures, with the most notable being the expansion of eligible investment categories for funds and family control tools—covering real estate outside Hong Kong, derivatives of carbon emission rights, insurance-linked securities, private debt investments, digital assets, precious metals, and certain commodities—all included in the tax-exempt investment scope. On the surface, this appears to be a routine adjustment of tax incentives. However, when this policy is viewed alongside Hong Kong's recent continuous actions in areas such as the gold clearing system, stablecoin licensing, and RWA (Real-World Asset) project implementations, a larger picture begins to emerge: Hong Kong is