Hong Kong's SFC, FSTB target 2026 legislation for virtual asset dealer and custodian rules

Hong Kong's Financial Services and the Treasury Bureau (FSTB) and the Securities and Futures Commission (SFC) announced plans to introduce a new bill to the Legislative Council in 2026 to establish a licensing framework for virtual asset dealers and custodians. This follows a public consultation and aims to align regulations with existing requirements for securities dealing, falling under the Anti-Money Laundering and Counter-Terrorist Financing Ordinance. The proposed custodian regime will focus on securing private keys and protecting client assets, supporting Hong Kong's goal to become Asia's crypto hub. Furthermore, the SFC is consulting on extending oversight to virtual asset advisers and managers based on the "same business, same risks, same rules" principle.

(Source：CoinDesk)