Hong Kong plans to submit a draft amendment to the virtual asset regulatory ordinance by the end of 2026, covering four categories of business including trading and custody.

According to Cointelegraph, the Hong Kong Special Administrative Region government has reiterated its plan to submit a draft amendment bill on virtual asset regulation by the end of 2026, establishing a licensing regime for four categories of virtual asset services: trading, custody, advisory, and management. At a policy briefing on October 5, Paul Chan, Secretary for Financial Services and the Treasury, stated that the government will submit the relevant amendment bill within this year to respond to innovative developments in the financial technology sector and further refine the virtual asset regulatory framework. Previously, the Hong Kong Monetary Authority granted the first batch of stablecoin issuer licenses to Anchorpoint Financial and HSBC Bank (Hong Kong) in April this year. The proposed new licensing regime will further expand the scope of Hong Kong's virtual asset regulation.