In a major step toward strengthening its position as a global hub for virtual assets (VA), the Government of Hong Kong has progressively implemented a robust regulatory framework for the sector. This transformation began with the release of a Policy Statement on the Development of Virtual Assets in October 2022, which affirmed the Government’s commitment to the principle of “same activity, same risk, same regulation.” The statement laid the foundation for the creation of regulatory standards that mirror those in traditional finance, with the goal of fostering innovation while safeguarding market integrity.
As part of this initiative, a licensing regime for Virtual Asset Trading Platforms (VATPs) was officially launched in June 2023. Under the new system, any entity seeking to operate a VATP in Hong Kong must apply for a license from the Securities and Futures Commission (SFC). The licensing process ensures compliance with international norms, particularly in areas such as anti-money laundering and counter-terrorist financing (AML/CFT), as well as investor protection.
Building on the VATP regulatory framework, the Government introduced further legislation to address the rapidly evolving stablecoin market. On 18 December 2024, the Stablecoins Bill was tabled before the Legislative Council. The proposed law aimed to establish a dedicated regulatory regime for activities involving stablecoins, giving the Monetary Authority (MA) the necessary supervisory powers to oversee issuance, governance, and operational risks associated with these digital assets.
Following legislative scrutiny, the Stablecoins Bill was passed on 21 May 2025, marking another significant milestone in the region’s virtual asset governance. With this development, Hong Kong becomes one of the few global jurisdictions to implement comprehensive oversight mechanisms for both general virtual assets and the more specific subset of stablecoins.
Together, these initiatives reflect Hong Kong’s proactive approach to aligning with global standards, enhancing investor confidence, and promoting sustainable growth in the digital asset economy.
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By FCCT Editorial Team freeslots dinogame telegram营销
