Hong Kong regulators are moving forward with new licensing regimes for virtual asset dealers and custodians as part of a wider effort to strengthen crypto oversight.
The Financial Services and the Treasury Bureau and the Securities and Futures Commission confirmed they have concluded consultations on the proposed frameworks.
Under the plans, firms offering crypto dealing or custody services in Hong Kong will be required to obtain regulatory licences once the legislation takes effect.
Authorities said the move reflects growing activity in the digital asset sector and the need for clearer supervisory standards.
The proposed regimes expand Hong Kong’s existing approach to crypto regulation, which already mandates licences for virtual asset trading platforms.
The current trading platform regime evolved from an opt-in framework launched in 2020.
To date, 11 crypto trading platforms have received approval from the Securities and Futures Commission.
Earlier in 2025, Hong Kong also enacted its Stablecoin Ordinance, introducing a formal licensing system for stablecoin issuers.