Hong Kong Pushes Ahead With 2026 Deadline for Crypto Licensing Bill
The Hong Kong government has reaffirmed its commitment to submitting an amendment bill by the end of 2026 to establish licensing regimes for digital asset trading, custody, advisory, and management services. This move is part of its broader crypto licensing bill, which aims to create a comprehensive framework for digital asset activities. Secretary for Financial Services and the Treasury Christopher Hui announced during a policy briefing on Monday that the bill will be submitted "within this year" to address the rapid advancements in financial technology.
Hui stated that the amendment bill will cover the four categories of digital asset services in response to the innovative developments in the sector. This aligns with the government's earlier announcement in January, when regulators revealed plans to submit a draft proposal related to crypto asset regulation before the end of 2026. The Hong Kong Monetary Authority (HKMA) has already begun processing license applications for stablecoin issuers, demonstrating the government's proactive approach to regulatory frameworks.
In April, the HKMA granted its first stablecoin issuer licenses to Anchorpoint Financial and the Hongkong and Shanghai Banking Corporation. This development underscores Hong Kong's efforts to position itself as a leading hub for digital asset activities. The upcoming amendment bill is expected to further solidify the city's stance on crypto regulation and foster a more structured environment for digital asset services.