Hong Kong Plans Licensing Regime for Virtual Asset Trading, Custody and Advisory Services, With Amendment Bill Due in 2026

Nov. 4: According to a Hong Kong Information Services Department press release, the main forum of Hong Kong FinTech Week x StartmeupHK 2026 concluded on Nov. 3 at the Hong Kong Convention and Exhibition Centre. Deputy Secretary for Financial Services and the Treasury Joseph Chan Ho-lim said: "Certainty is key to innovation and development. Under the direction of the Policy Statement on Digital Asset Development in Hong Kong 2.0, we will establish a licensing regime for virtual asset trading, custody, advisory and management services, and submit an amendment bill to the Legislative Council in 2026 to clarify the compliance pathway for the market."

In addition, during a panel discussion, Securities and Futures Commission (SFC) CEO Julia Leung set out the SFC's strategic vision, noting that artificial intelligence and tokenization will empower the development of Hong Kong's financial markets, but investor protection and market integrity must be safeguarded at the same time. Leung also said that, in the face of increasingly pronounced AI-related threats, the industry must strengthen its cyber resilience. On tokenization, she believes the key to genuinely achieving scale effects lies in integrating it into market operations, so that it delivers tangible benefits by improving efficiency, inclusiveness, liquidity and settlement speed. Hong Kong Monetary Authority (HKMA) CEO Eddie Yue said Hong Kong has the advantages to seize the new growth opportunities brought by fintech. Building on the good progress made under "Fintech 2030", banks and fintech companies will be able to use data, AI, tokenization and other emerging technologies more effectively.