Hong Kong speeds up crypto licensing process
The city’s efforts, which include a proposed stablecoin framework and potential tax waivers on crypto gains, aim to attract global asset managers and reinforce its financial hub status.
Hong Kong is moving quickly to position itself as a global crypto hub, with plans to expedite licensing for crypto trading platforms next year. Joseph Chan, Acting Secretary for Financial Services, announced a streamlined licensing process and the establishment of a consultative panel to ensure sustainable and secure innovation in the sector.
The government is also considering broader financial policies, including potential investments in digital assets. While crypto remains a minimal part of the Exchange Fund’s strategy, Chan said external managers could explore diversified holdings.
These steps align with Hong Kong’s earlier efforts to lead in crypto innovation. A proposed stablecoin framework and a plan to waive taxes on crypto gains for wealthy investors reflect the city’s ambitions to attract global asset managers and strengthen its financial hub status.
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