Hong Kong’s financial authorities are drafting a regulatory framework for firms offering crypto advisory services. The Hong Kong Monetary Authority (HKMA) is reviewing licenses for stablecoin issuers and plans to establish a taxation reporting regime for cryptocurrencies. Minister Hui said that, reflecting international efforts to curb tax avoidance, cryptocurrency transaction tax information will be automatically exchanged starting in 2028. Meanwhile, the Legislative Council passed a bill regulating stablecoin issuance in August, though no issuers have yet been licensed by HKMA.
Hong Kong’s financial authorities are drafting a regulatory framework for firms offering crypto advisory services. The Hong Kong Monetary Authority (HKMA) is reviewing licenses for stablecoin issuers and plans to establish a taxation reporting regime for cryptocurrencies. Minister Hui said that, reflecting international efforts to curb tax avoidance, cryptocurrency transaction tax information will be automatically exchanged starting in 2028. Meanwhile, the Legislative Council passed a bill regulating stablecoin issuance in August, though no issuers have yet been licensed by HKMA.
This move signals a broader push to tighten control over crypto activities while supporting orderly market development. The coordinated measures reflect Hong Kong’s ongoing strategy to align with global standards on crypto regulation and tax transparency, even as the sector evolves. Officials expect steady progress toward concrete licensing and implementation timelines.
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