The Hong Kong government has confirmed its commitment to introduce a new legislative framework for the digital asset sector by the end of 2026. Financial Services and the Treasury Secretary Christopher Hui announced that the proposed amendment bill will cover four key areas: digital asset trading, custody, advisory services, and management activities.
This legislative initiative aims to address rapid advancements in financial technology. According to official statements, the government intends to submit the draft bill within the current year. The move is part of a broader strategy to establish comprehensive regulatory oversight for various crypto-related operations within the region.
Regulators in Hong Kong have already begun expanding their oversight of the sector. Earlier this year, the Hong Kong Monetary Authority started processing license applications for stablecoin issuers. In April, the authority issued its first stablecoin licenses to Anchorpoint Financial and the Hongkong and Shanghai Banking Corporation.
