Key facts
- Hong Kong regulators plan to submit an amendment bill this year to establish licensing for digital asset trading, custody, advisory, and management services.
- The government aims to have the licensing framework established by the end of 2026.
- The amendment bill is a response to "innovative developments" in financial technology.
- The Hong Kong Monetary Authority granted its first stablecoin issuer licenses in April to Anchorpoint Financial and HSBC.
Hong Kong regulators are moving forward with plans to establish a comprehensive licensing regime for digital asset activities, with the government set to submit an amendment bill this year. The proposed framework aims to cover four key categories: digital asset trading, custody, advisory, and management services. This initiative is part of a broader effort to regulate the burgeoning digital asset sector and is targeted for full implementation by the end of 2026.
Christopher Hui, Secretary for Financial Services and the Treasury of Hong Kong, announced at a policy briefing that the amendment bill would be submitted within the current year. He indicated that the move is a response to the rapid advancements in financial technology. Previously, in January, Hui had outlined regulators' intention to propose a draft bill related to crypto asset regulation by the end of 2026.