Hong Kong proceeds with licensing regimes for virtual asset dealers and custodians
Hong Kong’s FSTB and SFC will introduce licensing requirements for virtual asset dealing and custody firms, expanding the city’s policy push that already includes a stablecoin licensing blueprint and tokenization guidance.
Hong Kong regulators will proceed with legislating licensing regimes for crypto dealers and custodians after wrapping up consultations, as part of a broader push to tighten oversight.
In a Wednesday announcement, the city’s Financial Services and the Treasury Bureau (FSTB) and the Securities and Futures Commission (SFC) said that they had concluded consultations on proposed licensing regimes, which would require firms providing crypto dealings or custody services in Hong Kong to obtain licenses once the framework takes effect.
The move adds to the city’s expanding crypto licensing framework. Earlier in 2025, Hong Kong brought its Stablecoin Ordinance into force, opening a new licensing regime for stablecoin issuers.