Crypto05 October, 20262 min read
Hong Kong Reaffirms End-2026 Deadline For Crypto Licensing Bill Covering Four Services
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Hong Kong plans end-2026 deadline to submit amendment bill for crypto licensing regimes Licensing regimes will cover digital asset trading, custody, advisory, and management services
Hong Kong sets crypto deadline
Hong Kong reaffirmed its end-2026 deadline to submit an amendment bill that would create licensing regimes for digital asset trading, custody, advisory and management services. Christopher Hui told a Monday policy briefing that the government would submit the bill "within this year," according to a government statement.
The government said the amendment bill would respond to "innovative developments" in financial technology, while the report left unconfirmed which regulator would watch each of the four categories. The government also left unconfirmed whether the four categories would be handled in one bill or separate bills, and it did not name the parent legislation the amendment would modify.
Stablecoin licenses already granted
Hong Kong Monetary Authority began processing license applications for stablecoin issuers in January, and the HKMA granted its first stablecoin licences to Anchorpoint Financial Limited and The Hongkong and Shanghai Banking Corporation Limited on 10 April 2026. The HKMA’s stablecoin licensing was described as effective on 10 April 2026, and both licensees said they intended to complete preparation work and launch business in the coming few months.
The Financial Services and the Treasury Bureau and the SFC published consultation conclusions on legislative proposals for regulating virtual asset advisory and management services on 26 May 2026. The government statement discussed in the briefing was not available to Altcoin Buzz, and the report said the practical question for holders was what becomes of platforms already licensed as intermediaries.
Four regimes, still pending
Hong Kong set out plans to submit legislation before the end of 2026 that would create licensing regimes for virtual asset dealing, custody, advisory and management services, while the proposal still had to go through the Legislative Council.
Christopher Hui said during an Oct. 5 Legislative Council Finance Committee policy briefing that the government would introduce an amendment bill covering the four service areas this year.
The plan said the SFC would license and supervise firms carrying out covered dealing activities, and it described custody rules as focusing on firms responsible for safeguarding private keys belonging to clients.
The proposal also said advisory and management services would sit under separate licensing regimes, and it noted that regulators had received more than 190 responses before publishing conclusions on Dec. 24 and attracted 51 responses to the advisory and asset management consultation that closed in January 2026.