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BTCC / BTCC Square / Global Cryptocurrency /
Hong Kong Launches Stablecoin Licensing Amid Broader Crypto Regulatory Push

Hong Kong Launches Stablecoin Licensing Amid Broader Crypto Regulatory Push

Author:
Global Cryptocurrency
Published:
2026-01-30 15:03:02
7
1
BTCCSquare news:

Hong Kong's financial regulators have activated their stablecoin licensing regime, with the HKMA now reviewing applications under the Stablecoin Ordinance that took effect in August 2024. This positions Hong Kong among the few global financial hubs with a formalized framework for fiat-backed stablecoins.

Financial Services Secretary Christopher Hui confirmed the licensing process during a Legislative Council briefing, while revealing plans to submit comprehensive virtual asset regulations covering trading platforms, custody providers, and advisory services by 2026. The MOVE follows December's conclusion of consultation on trading and custody rules, with separate discussions ongoing for asset management services.

The regulatory advances coincide with Hong Kong's 2028 timeline for implementing crypto tax reporting requirements, signaling methodical progression toward institutional crypto adoption. Market observers note the city's deliberate approach contrasts with reactive regulation elsewhere in Asia.

|Square

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