Legislative Council Member Duncan Chiu: Hong Kong's New Digital Asset Licensing Ordinance Expected to Pass by Year-End or Early Next Year
PANews, September 23 - Hong Kong Legislative Council member (Technology and Innovation Constituency) Duncan Chiu said in a keynote speech at the 2026 Shanghai International Blockchain Week and the 12th Global Blockchain Summit that the new licensing regime ordinance covering virtual asset trading services, custody, and more is expected to be submitted to the Legislative Council for discussion in the second half of this year, with a goal of passing it in the second half of this year or early next year, at which point Hong Kong's digital asset-related licensing requirements will be largely clarified. He also said that the setback of the U.S. CLARITY Act is more favorable to Hong Kong in the long run; currently, two licensed stablecoin issuers in Hong Kong are testing different application scenarios.
Hong Kong legislator says a new digital asset licensing ordinance covering trading services and custody is expected to pass by year-end or early next year, while calling the US CLARITY Act setback favorable to Hong Kong; this lowers regulatory uncertainty for licensed virtual asset platforms, custody providers and stablecoin issuers, which could improve institutional entry expectations and product testing in Hong Kong. Because the ordinance is still pending rather than enacted, the near-term impact is mainly on Hong Kong-focused VATP, custody and stablecoin names, so crypto market short-term bullish (weak to medium).