Hong Kong officials are preparing a new set of regulations for the crypto industry, expected to be proposed in 2026.
The city’s Secretary for Financial Services and the Treasury, Christopher Hui, said the framework will focus on companies that provide crypto-related advisory services.
Hui discussed the plan during a briefing with the Legislative Council’s Finance Committee. He said that the Financial Services and the Treasury Bureau, along with the Securities and Futures Commission, are working together on the draft.
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Both regulators have been collecting feedback from the public since releasing a consultation paper on digital assets in December.
The Hong Kong Monetary Authority has already started reviewing license applications from stablecoin issuers. It is also developing new policies on how crypto assets should be reported for tax purposes.
According to Hui, Hong Kong will also align with international tax standards. He explained that Hong Kong plans to update its laws to match global tax standards set by the OECD.
Starting in 2028, the city aims to automatically share information about crypto transactions with other countries to help prevent international tax evasion.
The Hong Kong Securities & Futures Professionals Association (HKSFPA) recently asked the government to adjust parts of its plan to apply new global crypto reporting standards from the OECD. What did the agency say? Read the full story.
