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Hong Kong Eases Crypto Rules for Banks, Targets 2026 Implementation
Hong Kong Eases Crypto Rules for Banks, Targets 2026 Implementation
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BTCCSquare news:
Hong Kong is advancing its cryptocurrency regulatory framework with new guidelines for banks, set to take effect by early 2026. The Hong Kong Monetary Authority (HKMA) has released a draft module, CRP-1, under its Banking Regulatory Policy Manual, aiming to align bank capital requirements with Basel Committee standards. This move positions Hong Kong to compete with the U.S. in fostering crypto adoption.
The draft focuses on classifying crypto assets, particularly those tied to public blockchains, providing clarity for financial institutions. Faith, a legal expert at King & Wood Law Firm, noted the significance of these guidelines in an interview with Caixin, emphasizing their role in shaping Hong Kong's crypto landscape.
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