Hong Kong to submit crypto trading, custody licensing bill this year

Hong Kong Secretary for Financial Services and the Treasury Christopher Hui said the government plans to submit amendments within the year to establish a licensing regime for cryptocurrency trading, custody, investment advisory, and asset management services. Hong Kong authorities previously conducted a public consultation on regulatory measures for crypto trading and custody services and are now pushing to expand the licensing regime to cover investment advisory and asset management services as well. Hong Kong’s Financial Services and the Treasury Bureau and the Hong Kong Monetary Authority (HKMA) are also reviewing legal framework changes to strengthen the detection and removal of fraudulent content that misuses AI.