The Hong Kong government plans to submit a new cryptocurrency bill to the Legislative Council by the end of 2026. Secretary for Financial Services and the Treasury Christopher Hui confirmed this timeline during a policy briefing on October 5, 2026.
The proposed legislation introduces licensing for four specific virtual asset activities: dealing, custody, advisory, and management. These regimes will fall under the supervision of the Securities and Futures Commission (SFC) and will be implemented as amendments to the Anti-Money Laundering and Counter-Terrorist Financing Ordinance.
The bill does not include transitional or grandfathering provisions for existing businesses. Companies currently lacking licenses from the SFC or the Hong Kong Monetary Authority may be forced to cease operations once the regulations take effect.
This initiative is part of the city's 2026-2030 financial market development strategy and the Policy Statement 2.0 on Digital Assets. It follows previous regulatory steps, including the licensing of trading platforms in 2023 and the Stablecoins Ordinance effective from August 1, 2025.
