Hong Kong Pushes New Crypto Licensing Regime, Targets Bill Passage as Early as Year-End
Summary
- Hong Kong said it is pushing to introduce a new cryptocurrency licensing regime, with the goal of passing related legislation within the year.
- It said that once the bill takes effect, most licensing requirements for digital-asset trading services and custody services providers will become clear.
- It said the failure of the U.S. crypto market structure bill (Clarity Act) could work in Hong Kong's favor over the long term and improve its competitiveness in attracting global digital-asset companies.
Forecast Trend Report by Period
Hong Kong is moving to introduce a new cryptocurrency licensing regime, targeting passage of related legislation as early as this year.
Odaily and other outlets reported on Sept. 23 that Duncan Chiu, a member of Hong Kong's Legislative Council, made the remarks in a keynote speech at the 2026 Shanghai Blockchain Global Summit. He said a bill on the new digital-asset licensing regime is scheduled to be discussed in the Legislative Council in the second half of this year.
Chiu, who represents the technology and innovation sector in the legislature, said the goal is to pass the bill in the second half of this year or early next year. Once enacted, it would clarify most licensing requirements for digital-asset businesses in Hong Kong.
At the center of the new regime is a plan to bring digital-asset trading services and custody service providers into the regulatory framework. Hong Kong's Securities and Futures Commission and other financial authorities have recently held joint discussions on introducing the system.
Chiu also referred to the U.S. crypto market structure bill, known as the Clarity Act. He said its failure to clear the U.S. Senate could work in Hong Kong's favor over the long term. If regulatory uncertainty persists in the U.S., Hong Kong's push to formalize the sector could strengthen its appeal to global digital-asset companies.
