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Hong Kong Targets 2026 for Proposed Crypto Licensing Bill: What It Would Cover

Hong Kong’s planned crypto licensing bill targets submission in 2026 and could cover dealing, custody, advisory and management. It is not yet enacted.
From TheFinanceBase Team2 min to read
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Hong Kong officials’ stated target is to submit a bill for new crypto-service licensing regimes during 2026. The latest reaffirmation was reported by Cointelegraph on October 6, 2026; the proposal is not yet an enacted licensing law. The reported scope spans four activities: dealing or trading, custody, advisory, and management.

What is the status of Hong Kong’s crypto licensing bill?

As of October 7, 2026, the bill remains planned, not enacted. Cointelegraph reported on October 6 that Financial Services and the Treasury Secretary Christopher Hui said officials would submit an amendment bill within 2026. The report links to a government statement, but the latest reaffirmation should be attributed to Cointelegraph rather than treated as a directly verified government quotation. Cointelegraph’s October 6 report

The broader 2026 target is also reflected in the government’s 2026-27 Budget Speech and in a May statement from the Securities and Futures Commission (SFC) and the Financial Services and the Treasury Bureau (FSTB). The budget refers to proposed licensing regimes for digital-asset dealing and custodian service providers. The May statement says officials were finalizing advisory and management proposals and aimed to introduce a bill in the Legislative Council during 2026.

Which crypto services would the proposed regimes cover?

The reported proposal covers four service categories. The categories are at different stages of policy development, so their prior consultation milestones should not be mistaken for enacted licensing requirements.

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Proposed service What the category concerns Policy milestone
Dealing or trading Virtual-asset dealing or trading services. Consultation conclusions were published in December 2025; officials set a 2026 target for introducing the relevant bill. SFC/FSTB consultation conclusions
Custody Virtual-asset custody services. Covered with dealing in the December 2025 consultation conclusions and the 2026 bill target. SFC/FSTB consultation conclusions
Advisory Virtual-asset advisory services. The May 2026 proposal is intended to align with the scope of Type 4 regulated activity: advising on securities. SFC/FSTB May 2026 release
Management Virtual-asset management services. The May 2026 proposal is intended to align with the scope of Type 9 regulated activity: asset management. SFC/FSTB May 2026 release

The May release says the proposed advisory and management regimes would be established under the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (Cap. 615). That describes the proposals, not a final set of obligations. SFC Chief Executive Officer Julia Leung said the further consultation’s conclusion marked the “final leg” of work to complete the digital-asset regulatory framework. The same release records 51 responses to the advisory and management consultation; that is a consultation response count, not a measure of market-wide support. SFC/FSTB May 2026 release

What is not settled yet?

The reviewed official materials and October 6 report establish a bill target and proposed activities, but do not establish a final commencement date, transition period, or complete final list of licensing obligations. Those details depend on the bill text and its legislative progress. In particular, consultation conclusions and policy proposals do not mean all four service categories are already subject to this new regime.

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Is this the same as Hong Kong’s 2026 crypto-asset reporting bill?

No. The Inland Revenue (Amendment) (Crypto-Asset Reporting Framework and Amended Common Reporting Standard) Bill 2026 is a separate tax-transparency measure, not the proposed service-licensing bill. The Inland Revenue Department says the CARF bill was gazetted on May 22, 2026 and introduced for First Reading on June 3. Subject to passage, its CARF-related amendments are to apply from January 1, 2027, and Hong Kong’s first automatic exchange of information under CARF is planned for 2028. These dates concern tax reporting and information exchange, not licensing of crypto-service providers. Inland Revenue Department: CARF legislation

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