Hong Kong to introduce unified crypto regulatory framework

The Hong Kong government is moving to establish a comprehensive regulatory framework for the entire cryptocurrency industry. According to an announcement on the official website of Hong Kong’s Financial Services and the Treasury Bureau (FSTB), the government plans to introduce a new regulatory system that covers trading, custody, investment advisory, and asset management services. This initiative builds upon the existing licensing scheme for crypto trading platforms and the regulatory framework for stablecoin issuers. Under the proposed rules, which are based on the Securities and Futures Ordinance, any institution providing these services in Hong Kong will be required to obtain a license or registration from the Securities and Futures Commission (SFC). The regulations will place a particular focus on crypto custody services, with key supervisory areas including private key management systems and the protection of customer assets.