Hong Kong officials double down on end-2026 deadline for crypto licensing bill

What happened

Secretary for Financial Services and the Treasury of Hong Kong, Christopher Hui, told a Monday policy briefing that the government will submit an amendment bill “within this year” to establish a broader framework for digital asset activities, according to a statement released by the Hong Kong government. In January, Hui revealed that regulators planned to submit a draft proposal related to crypto asset regulation before the end of 2026.

He also said that the Hong Kong Monetary Authority (HKMA) had begun processing license applications for stablecoin (a digital token meant to hold a fixed value, usually one dollar) issuers. Hong Kong regulators plan to establish a licensing regime for four categories, including digital asset trading, custody, advisory and management services.

The Hong Kong government reaffirmed its plans to submit an amendment bill before the end of 2026 to establish licensing regimes for digital asset trading, custody (holding customers’ assets on their behalf), advisory and management services as part of its broader crypto licensing bill. In April, the HKMA granted its first stablecoin issuer licenses to Anchorpoint Financial and the Hongkong and Shanghai Banking Corporation. Readers are encouraged to verify information independently.