Overview
- FSTB and the SFC said they will finalize proposals after a consultation that drew more than 190 responses and plan to table a bill to LegCo in 2026.
- Dealer licensing would apply a “same business, same risks, same rules” approach comparable to securities dealing, covering OTC desks and brokers.
- The custodian regime focuses on strict private key controls and segregation of client assets to mitigate counterparty risk.
- The measures form part of the SFC’s ASPIRe roadmap and support Hong Kong’s push to build a regulated crypto hub distinct from mainland China and competitive with Singapore.
- A separate consultation to extend oversight to virtual asset advisers and managers is open, with comments due Jan. 23, following earlier steps such as staking approvals and spot crypto ETFs.