Hong Kong to introduce licensing for crypto dealers and custodial providers

Hong Kong authorities are preparing new licensing regimes for companies involved in trading and custodial services for digital assets

Hong Kong launches licensing for dealers and custodial providers

25.12.2025 - 10:00

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3 min

Key points:

Hong Kong has completed consultations on licensing crypto dealers and custodians.
Companies providing custody services for digital assets will be required to obtain licenses.

The Hong Kong Financial Services and Treasury Bureau (FSTB), in conjunction with the Securities and Futures Commission (SFC), has announced the completion of consultations on the introduction of licensing regimes for virtual asset dealers and custodial service providers.

Once the new framework comes into effect, crypto companies providing digital asset trading or custody services in Hong Kong will be required to obtain the appropriate licenses. Regulators will begin drafting relevant legislation in the near future.

How this fits into Hong Kong’s crypto policy

The new requirements expand the city’s existing crypto market regulatory system. In 2025, Hong Kong launched a separate licensing regime for stablecoin issuers, and earlier introduced mandatory licensing for cryptocurrency trading platforms.

The current regime for trading platforms was based on a voluntary system introduced in 2020. To date, 11 companies have obtained SFC licenses.

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The SFC has also published a separate consultation paper on the licensing of crypto asset advisory and management service providers. The proposed regimes will be linked to existing AML and counter-terrorism financing requirements.

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SFC Chief Julia Leung said that further regulatory development will enable Hong Kong to maintain its position as a key global digital asset hub and build a sustainable and competitive ecosystem.

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