Hong Kong plans new licenses across 4 crypto services
Hong Kong has 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. Hong Kong Secretary for Financial Services and the Treasury 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 follows consultations completed by the Financial Services and the Treasury Bureau and Securities and Futures Commission. The proposal would extend Hong Kongs licensing system beyond virtual asset trading platforms and stablecoin issuers. It does not mean the four new regimes have taken effect. The legislation must first be introduced to the Legislative Council and pass through the lawmaking process. Hong Kong wants licenses across four crypto services The planned bill covers virtual asset dealing, custody, advisory and management. Regulators have spent more than a year preparing separate rules for each activity before combining the legislative work into the next stage of Hong Kongs crypto framework. For virtual asset dealing, the proposed regime is designed to follow parts of the framework used for Type 1 securities dealing. The SFC would license and supervise firms carrying out covered dealing activities,
