On February 25, Hong Kong Financial Secretary Paul Chan revealed in the 2026-27 fiscal budget that Hong Kong will issue the first batch of fiat-backed stablecoin licenses next month, marking the substantive implementation of the stablecoin regulatory framework. Regulators will continue to assist licensed issuers in exploring applications such as payments, cross-border settlements, and digitalization of real assets in a compliant and risk-controlled manner, strengthening Hong Kong’s institutional advantages in the digital asset regulatory system.
At the policy level, it was also confirmed that Hong Kong plans to introduce new legislation later in 2026 to establish a licensing system covering crypto asset traders and custodians. The scope of regulation will expand from platforms and stablecoins to key areas such as over-the-counter trading and custody, further improving the compliant virtual asset ecosystem. Meanwhile, the Securities and Futures Commission of Hong Kong will take measures to enhance market liquidity, expand the categories of crypto financing and derivatives products available to professional investors, and promote compliance innovation and market depth through the establishment of an innovation accelerator.
Strategically, tokenization is listed as one of the core pillars. The Hong Kong government plans to issue guidelines allowing bondholder registries to be on-chain and explore the issuance of tokenized bonds via electronic signatures, promoting practical blockchain applications in traditional financial infrastructure. Additionally, the Hong Kong Monetary Authority will continue to upgrade the EnsembleTX project, advancing pilot programs for wholesale central bank digital currencies, enabling real-time, 24/7 settlement of tokenized deposits and digital assets, and strengthening cross-border interoperability standards.
In terms of taxation and compliance, Hong Kong will revise the Tax Ordinance over the next two years to align with the OECD crypto asset reporting framework and updated common reporting standards, enhancing tax transparency and aligning with global digital asset regulation trends. As stablecoin licenses are issued, trading and custody legislation progresses, and tokenization infrastructure is built, Hong Kong is accelerating the development of a comprehensive crypto financial regulatory system covering issuance, circulation, custody, and clearing.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Geopolitical Turmoil! Dalio Declares "Gold is the Only True God," but Its Safe-Haven Performance Trails Bitcoin
As geopolitical tensions in the Middle East escalate, Bridgewater founder Ray Dalio questions Bitcoin and reaffirms gold as the preferred safe haven. Nevertheless, gold prices fell accordingly, while Bitcoin only experienced a slight correction, indicating that the correlation between the two is weakening. Dalio doubts Bitcoin's transparency and future risks, but he still maintains a small allocation of Bitcoin for diversification.
区块客12m ago
Beyond Islamic teachings, Iran needs Bitcoin.
Author: Zen, PANews
The global spotlight is on Iran and the Persian Gulf. The outside world often discusses Iran through two main narratives: military and regime risks, and energy and shipping impacts. Mainstream media reports focus on military actions, oil and gas facilities, the Strait of Hormuz, and sharp fluctuations in financial markets.
But beneath these grand narratives, if you zoom in on cities like Tehran, Mashhad, and Ahvaz and look at individual ordinary people, you will find that when tensions are high, the most important things are life and asset hedging.
After the US and Israel launched an attack, the outflow of assets from Iran’s largest cryptocurrency exchange Nobitex surged, skyrocketing by about 700% within just a few minutes. Chainalysis’s report also confirmed that within hours after the attack, the hourly trading volume of crypto assets within Iran rapidly increased.
区块客16m ago
Crack down on illegal black markets! The UK considers opening up the gaming market to accept cryptocurrency payments
Author: Fenrir, Crypto City
From the regulatory gray area to the mainstream, the UK Gambling Commission explores the possibility of crypto asset payments
The UK Gambling Commission (UKGC) recently signaled a major policy shift, planning to formally explore the integration of cryptocurrencies into compliant gambling markets. During the annual conference of the Betting and Gaming Council (BGC) in London, the commission’s Director of Research and Policy Implementation, Tim Miller, pointed out that digital assets are transitioning from the regulatory gray area to mainstream payment options.
Image source: Lottery Daily | UK Gambling Commission (UKGC) Director of Research and Policy Implementation Tim Miller
This move reflects the UK government’s commitment to establishing the country as a global “crypto hub,” and aims to connect one of the largest economic pillars domestically with modern consumer payment preferences. According to statistical data, currently
区块客20m ago
Indiana Governor Signs Bill: Officially Opens "Retirement Fund Investment in Cryptocurrency"
Indiana Governor signs House Bill 1042, allowing certain retirement funds to invest in crypto assets. The bill requires public savings and retirement plans to offer cryptocurrency options and establish related investment channels by July 1, 2027. Additionally, the state government shall not impose special taxes on cryptocurrency transactions. This move indicates the growing integration of cryptocurrencies into the traditional financial system in the United States.
区块客24m ago
Bank failures, war conflicts: Iran's $7.8 billion cryptocurrency "shadow economy" becomes the focus again
As the US-Israel coalition's military actions against Iran escalate, Iran's "shadow economy" becomes a focal point. Iran has legalized Bitcoin mining and is utilizing cheap electricity for mining to bypass US dollar sanctions, with the mining scale potentially reaching $7.8 billion and being heavily relied upon by the military. The rial has depreciated by over 96%, and the stablecoin USDT has become a new tool for trade, while the public is turning to Bitcoin to protect their assets.
区块客33m ago
Analysis: The CLARITY Act's expected warming effect combined with the fiat devaluation logic regression is driving BTC to strengthen against the trend
Under the influence of the Middle East conflict, Bitcoin has risen against the trend, reaching a one-month high, and the overall crypto market is recovering. Factors driving the increase include expectations of fiat currency devaluation, optimistic sentiment about conflict easing, and the upcoming passage of the CLARITY Act, which is expected to benefit the legal status of stablecoins.
GateNews1h ago
