Hong Kong Charts New Course to Shape the Crypto Landscape

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Hong Kong’s 2026 Vision

The 2026 agenda of FSTB and SFC focuses on consolidating critical elements such as cryptocurrency trading and custody services under one roof. The devised regime will reference expectations seen in securities markets for licensed brokers. This approach will clarify the compliance, governance, and operational standards for market participants.

On the custody front, priority is given to safeguarding private keys and protecting client assets. Trading brokerage rules aim to define who can undertake brokerage activities, the conditions, and compliance obligations required. Both aspects are integral to SFC’s ASPIRe roadmap, striving to enhance access to regulated cryptocurrency markets.

Additionally, the SFC has initiated a consultation to expand oversight to include cryptocurrency advisors and managers. Regulators plan to develop standards comparable to securities advisory and portfolio management, grounded on the principle of “same business, same risk, same rule.” The deadline for feedback is set for January 23.

Hong Kong’s Vision as a Crypto Hub

The administration in Hong Kong intends to create a regulatory climate supporting the cryptocurrency industry’s growth to position the city as a preferred crypto hub in Asia. The competition with Singapore comes to the forefront, contrasting sharply with China’s tightening stance on cryptocurrencies.

Recent policy moves have further bolstered the groundwork for the 2026 agenda. In February, the SFC announced new licensing schemes for over-the-counter (OTC) trading, along with reviews on derivatives and margin trading in cryptocurrencies. By April, they had approved staking services for licensed exchanges and funds under stringent asset control and risk disclosure conditions. Spot crypto-based exchange-traded funds (ETFs) have been trading in the country since 2024.

The overarching integration aims to align market infrastructure with the framework demanded by institutional investors, centralizing activities under a licensed, auditable track. The legislative plan extending to 2026 seeks to integrate the quest for standardization in both operational licensing and custody security into a unified pathway.