Hong Kong Pushes New Digital-Asset Licensing Regime, Targets Bill Passage as Early as This Year

Hong Kong is moving to introduce a new licensing regime for digital assets, with authorities aiming to pass the bill as early as this year.

Duncan Chiu, a member of Hong Kong’s Legislative Council, made the remarks in a keynote speech on September 23 at the 2026 Shanghai Blockchain Global Summit, according to Odaily and other outlets. He said a bill tied to the new digital-asset licensing regime is scheduled to be discussed in the Legislative Council in the second half of this year.

Chiu, who is responsible for science and technology innovation matters in the legislature, said the aim is to secure passage in the second half of this year or early next year. Once the bill takes effect, most licensing requirements for Hong Kong’s digital-asset businesses will become clear.

The core of the new regime is to bring digital-asset trading services and custody service providers into the regulatory framework. Hong Kong’s Securities and Futures Commission and other financial authorities have recently held joint consultations on introducing the related system.

Chiu also mentioned the US crypto market structure bill, known as the Clarity Act. He said its failure to clear the US Senate could work in Hong Kong’s favor over the long term. If regulatory uncertainty persists in the US, that could strengthen Hong Kong’s competitive position in attracting global digital-asset companies as it pushes ahead with formalizing its rules.