VASP Tracker › Hong Kong
Hong Kong Crypto Licensing: Stablecoin and VA Licensing
Date not set The virtual-asset dealing and custody bill has no commencement date yet.
- Regulator
- HKMA (stablecoins) · SFC (virtual asset trading platforms)
- Legal basis
- Stablecoins Ordinance (Cap. 656) · AMLO VATP regime
HKMA · Regulatory regime for stablecoin issuers - Official register
- HKMA register of licensed stablecoin issuers · SFC list of licensed VATPs · SFC · Format: HTML
- Pending
- The virtual-asset dealing and custody bill has no commencement date yet.
What Is Changing
Hong Kong licenses virtual-asset trading platforms through the SFC and, since 1 August 2025, stablecoin issuers through the HKMA. The HKMA granted its first two issuer licences on 10 April 2026. Next is a separate licensing regime for virtual-asset dealers and custodians: the government planned to introduce that bill in 2026, and no commencement date has been set.
Timeline
- in force
Stablecoin issuer regime takes effect: issuing fiat-referenced stablecoins becomes a regulated activity that needs an HKMA licence.
Sources: HKMA · Stablecoin issuers official
- regulator notice
FSTB and SFC conclude consultations on licensing virtual-asset dealers and custodians and plan to introduce a bill into the Legislative Council in 2026.
Sources: SFC · Press release 25PR210 official
- first licences
HKMA grants the first two stablecoin issuer licences, to Anchorpoint Financial Limited and The Hongkong and Shanghai Banking Corporation Limited.
Sources: HKMA · Press release, 10 Apr 2026 official · HKMA · Register of licensees official
A company-level tracker for Hong Kong is in preparation. This page covers the rules and dates only. CSV
Cite This
VASP Tracker, “Hong Kong crypto licensing: stablecoin and VA licensing”, https://vasptracker.com/en/hk/ (21 Oct 2026), CC BY 4.0.