Hong Kong Expands Crypto Licensing to Four Services by 2026

Hong Kong is set to expand its crypto licensing regime beyond just trading platforms. The city plans to introduce a bill by the end of 2026 that will cover four digital asset services. Hong Kong Secretary for Financial Services and the Treasury Christopher Hui announced the proposal at a recent briefing.

The new framework would bring trading, custody, advisory, and asset management services under the oversight of the Securities and Futures Commission. Currently, only virtual asset trading platforms require licensing, which began in June 2023. The other services are not subject to specific licensing requirements, though they fall under existing securities and anti-money laundering laws.

The bill will initiate the legislative process, but its passage and implementation will depend on review by the Legislative Council. This step marks a significant move toward a more comprehensive regulatory structure for digital assets in Hong Kong.