Duncan Chiu says Hong Kong's digital asset licensing regulations are planned for submission in the second half of the year, with passage sought before early next year
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AT A GLANCE
Qiu Dagen said Hong Kong’s new licensing regime for digital assets may be passed by the end of 2026 or at the beginning of 2027.
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Legislative Council Member Duncan Chiu: Hong Kong’s new digital asset licensing ordinance is expected to pass by year-end or early next year
PANews September 23 According to reports, Hong Kong Legislative Council Member (Technology and Innovation) Duncan Chiu stated at 2026 Shanghai Blockchain International Week and the 12th Blockchain Global Summit, during a keynote speech, that the ordinance establishing a new licensing regime covering virtual asset trading services, custody, and other areas is expected to be submitted to the Legislative Council for discussion in the second half of this year, with efforts to secure passage in 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 stated that the setback faced by the U.S. CLARITY Act will be more favorable to Hong Kong in the long run; currently, Hong Kong’s licensed stablecoin issuers are testing different application scenarios.
Duncan Chiu is a member of the Hong Kong Legislative Council (Technology and Innovation constituency).
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The ordinance on the new licensing regime covering virtual asset trading services, custody, and other areas is expected to be submitted to the Legislative Council for discussion in the second half of 2026.
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Duncan Chiu stated that he will seek to have the ordinance passed in the second half of 2026 or early 2027.
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After the ordinance is passed, Hong Kong's licensing requirements related to digital assets will be largely clarified.
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Currently, licensed stablecoin issuers in Hong Kong are testing different use cases.
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Duncan Chiu stated that setbacks to the U.S. CLARITY Act would be more beneficial to Hong Kong in the long run.
AI-assisted interpretation
The following is analysis, separate from reported facts. Verify important claims independently.
This regulation covers the licensing regime for businesses such as virtual asset trading services and custody. According to Yau Tat Kin, the regulation is expected to be submitted for discussion in the second half of 2026 and to pass in the second half of 2026 or early 2027.
Why it matters to readers
If the ordinance is passed as planned, Hong Kong's licensing requirements related to digital assets will largely be clarified.
The licensing regime determines which digital asset-related businesses must meet regulatory requirements, helping beginners understand the compliance environment of the relevant industry.
Risks and unknowns
It remains uncertain whether the regulations will be submitted and approved on the expected timeline.
The report did not disclose the names of the licensed stablecoin issuers or the test application scenarios.
The report does not specifically explain the circumstances surrounding the setback of the U.S. CLARITY Act.
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Related concepts
Virtual asset trading services
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