Hong Kong officials are still targeting a bill during 2026 to create licensing regimes for crypto-related services. The measure is planned, not enacted: the latest reaffirmation was reported by Cointelegraph on October 6, 2026, while official budget and consultation statements also set a 2026 target.
What is the status of Hong Kong’s crypto licensing bill?
As of October 7, 2026, the licensing measure remains a proposed bill. 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 says it would cover virtual-asset trading, custody, advisory and management services. Cointelegraph’s report links to a government statement, but the reported reaffirmation is best attributed to Cointelegraph rather than treated as a directly verified government quotation.
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The broader timetable is also reflected in official material. Hong Kong’s 2026-27 Budget Speech says the government will introduce a bill in 2026 to establish licensing regimes that include digital-asset dealing and custodian service providers. In May, the Securities and Futures Commission (SFC) and the Financial Services and the Treasury Bureau said they were finalizing advisory and management proposals and aimed to introduce a bill in the Legislative Council during 2026.
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The planned framework covers four activity categories, according to the October report and the relevant consultation materials:
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- Dealing or trading: virtual-asset dealing and trading services.
- Custody: services that safeguard virtual assets.
- Advisory: virtual-asset advice, with the proposal intended to align with the existing Type 4 regulated-activity scope for advising on securities.
- Management: virtual-asset management, intended to align with the existing Type 9 scope for asset management.
The SFC and Bureau say the proposed advisory and management regimes would be established under the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (Cap. 615). Their May 2026 consultation conclusions describe the policy direction and 2026 legislative aim. Separate proposals for dealing and custody were covered by consultation conclusions published in December 2025.
What has happened so far?
- December 2025: consultation conclusions were published on proposed regimes for virtual-asset dealing and custodian service providers, with a 2026 bill target.
- May 2026: the SFC and Bureau published conclusions on advisory and management proposals, saying they aimed to introduce a bill in the Legislative Council during 2026.
- October 6, 2026: Cointelegraph reported a renewed commitment to submit an amendment bill within the year.
The advisory and management consultation received 51 responses, according to the official release. That is a count of submissions, not evidence of market-wide support. SFC Chief Executive Officer Julia Leung said on May 26, 2026: “The conclusion of further consultation marks the final leg of our journey to complete the regulatory framework for digital assets, paving the way for the long-term scaling of our ecosystem.”
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What is not yet established?
A target to submit a bill is not the same as passage or commencement. The available statements do not establish a final start date, transition period or complete set of licensing obligations. Those details depend on the bill text and its legislative progress, so firms should not treat all four activities as already governed by this proposed regime.
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Is this the same as Hong Kong’s 2026 CARF 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 service-licensing proposal. The Inland Revenue Department’s CARF information says that bill was gazetted on May 22, 2026 and introduced for First Reading on June 3. Subject to passage, 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. Those dates concern tax reporting and exchange, not licensing crypto-service providers.
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- Tap once to manage your entire crypto wallet across 90 blockchains - no USB cables or Bluetooth, no batteries, no setup. Access 14,100+ coins & tokens, DeFi, NFTs, and staking instantly from your phone
- Smart backup: Use your second Tangem Wallet as your Backup keys with end‑to‑end encryption; no more papers, pictures. If one card is lost, the remaining can still restore full access, with an optional seed phrase available for advanced users.
- Engineered to last up to 25 years: Waterproof (IP69K), shockproof and tested for extreme temperatures from −25°C to 50°C. A durable cold wallet with long‑term protection and independently audited security.
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