Duncan Chiu says Hong Kong’s new digital asset licensing regulations targeted for passage by year-end or early next year
BIBIBI
AT A GLANCE
Duncan Chiu said that Hong Kong's new digital asset licensing regime bill may be passed by the end of the year or early next year.
Article
【Legislative Council Member Duncan Chiu: Hong Kong’s new digital asset licensing regulations could pass by year-end or early next year】
Hong Kong Legislative Council member (Technology and Innovation constituency) Duncan Chiu said in a keynote speech at 2026 Shanghai Blockchain International Week and the 12th Blockchain Global Summit that new licensing regulations covering virtual asset trading services, custody, and other areas are expected to be submitted to the Legislative Council for discussion in the second half of this year, with passage targeted for the second half of this year or early next year. At that point, Hong Kong’s licensing requirements related to digital assets will be largely clarified. He also said that, in the long term, the setback suffered by the US CLARITY Act would be more beneficial for Hong Kong; currently, Hong Kong’s two licensed stablecoin issuers are testing different application scenarios.
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Key points
01
Duncan Chiu is a Member of the Hong Kong Legislative Council (Technology and Innovation constituency).
02
The new licensing regime covers virtual asset trading services, custody, and other areas.
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The ordinance is expected to be submitted to the Hong Kong Legislative Council for discussion in the second half of 2026.
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Duncan Chiu stated that efforts will be made to secure passage in the second half of 2026 or at the beginning of 2027.
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Hong Kong currently has licensed stablecoin issuers testing different application scenarios.
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Duncan Chiu stated that the setback to the U.S. CLARITY Act will be more favorable to Hong Kong in the long term.
AI-assisted interpretation
The following is analysis, separate from reported facts. Verify important claims independently.
This ordinance will cover licensing requirements for businesses such as virtual asset trading services and custody. According to Duncan Chiu, the ordinance still needs to be submitted for discussion and approval.
Why it matters to readers
Once the bill is passed, Hong Kong's licensing requirements related to digital assets may become clearer.
Beginners should understand that digital asset businesses such as trading services and custody may need to comply with licensing requirements.
Risks and unknowns
The regulation has not yet been adopted, and its final content and timing may still change.
The report does not specify the circumstances surrounding the setback to the U.S. CLARITY Act.
The report does not identify the stablecoin issuers or the testing use cases.
The information comes from a Telegram channel, with no other sources provided for verification.
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Digital Assets
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