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
Iran Warns of "Funding U.S. Military Equals Being a Target," U.S. Treasury Security Challenged, Global Financial Markets Seek Emergency Safe Haven
Iran warned that agencies assisting the U.S. military could become targets of attack, sparking concerns among global investors and impacting market sentiment for safe-haven assets such as U.S. Treasuries. Geopolitical risks may cause fluctuations in bond yields, interest rates, and commodity markets, and investors should pay attention to their long-term effects.
GateNews12m ago
Bank of China Issues Risk Prevention Tips for Precious Metals Market, Recommends Rational Investment by Customers
Gate News reports that on March 23rd, Bank of China released a reminder regarding strengthening risk prevention in the precious metals market. Recently, global geopolitical risks have intensified, and under multiple factors, domestic and international precious metals price volatility has further increased. To protect the interests of customers engaged in precious metals-related businesses such as accumulated gold, accumulated interest gold, and account precious metals, Bank of China specially reminds customers to implement market risk prevention measures, conduct rational investments based on their own financial situation and risk tolerance, reasonably control precious metals positions, and reduce the impact of phase-specific price fluctuations through long-term investment, thereby preventing fund loss risks brought about by market volatility.
GateNews20m ago
Federal Reserve Rate Cut Expectations Disappear, Bitcoin and Crypto Market Bullish Logic Falters
CME data shows that the probability of Federal Reserve rate cuts has dropped to zero, while the probability of rate hikes has increased to 12.4%. The market's interest rate expectations have been rapidly repriced, causing Bitcoin's price to pull back to $68,739. Rising crude oil prices and increased inflation expectations have further diminished the appeal of crypto assets. Analysts warn that the higher the probability of rate hikes, the lower institutional interest in Bitcoin becomes, putting pressure on the market in the short term.
GateNews36m ago
Gold Price Unexpectedly Drops 2% Approaching $4400, Iran War and Oil Crisis Impact Safe-Haven Logic
On March 23, gold prices fell 2%, approaching $4,400, marking a new low since the end of 2025, with the selloff nearly erasing gains from early 2026. The Iran war and oil crisis are impacting gold price movements, with rising crude oil prices exacerbating inflation, central banks maintaining unchanged interest rates or even hiking rates, rising bond yields weakening gold's appeal, and a stronger dollar suppressing demand. Insufficient speculative momentum is accelerating the selloff, with the market showing clear divergence on the outlook. $4,300 is a key support level; if broken, it could accelerate further selling. Analysts predict gold prices could potentially return above $5,000, but market risks and external impacts warrant caution.
GateNews39m ago
The Clear Act Is Expected to Boost Altcoin Development, XRP and Chainlink Prospects May Benefit
The Digital Asset Market Clarity Act aims to clarify the regulatory framework for digital assets in the United States, distinguish between securities and commodities, reduce compliance confusion, and improve market liquidity. The legislation will promote institutional participation, improve investor sentiment, and advance altcoin project development, but the legislative process may be slow, and specific impacts still require monitoring.
GateNews41m ago
Korean Won Plummets, Triggering USDT Discount as Crypto Market Hedging Demand Plummets
On March 23rd, the Korean won fell to 1,511 won per US dollar against the dollar, marking its lowest level since 2009, driving investors to seek safe-haven assets. In South Korea's crypto market, however, USDT experienced a rare discount, trading at approximately 0.5% below the US dollar spot rate. Geopolitical tensions and stock market sell-offs have suppressed stablecoin demand, with USDT's discount reflecting intensifying risk-off sentiment in the market.
GateNews42m ago
