Policy Reference

Hong Kong

Explore Hong Kong’s crypto laws, including exchange licensing, SFC rules, taxes, AML compliance, and digital asset regulation.

Securities and Futures Commission (SFC)
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Topic
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Law database

18 law profiles

Law / Bill
Draft Intro Committee Passed Enacted Effective
Stablecoins Ordinance (Cap. 656) — Hong Kong Cap. 656; Ordinance No. 17 of 2025 Effective Details Draft Draft: Completed Intro Introduced: Completed Committee In committee: Completed Passed Passed: Completed Enacted Enacted: Completed Effective Effective: Current

Stablecoins Ordinance

Hong Kong statute creating the HKMA licensing regime for fiat-referenced stablecoin issuers, with reserve, redemption, offering, disclosure and AML/CFT controls.

Last action: Apr 10, 2026 - First issuer licences granted

Profile Stablecoins Ordinance (Cap. 656)
Hong Kong HKMA Stablecoin Issuer AML/CFT Guideline Stablecoins Ordinance s.171; AMLO s.7 Effective Details Draft Draft: Completed Intro Introduced: Completed Committee In committee: Completed Passed Passed: Completed Enacted Enacted: Completed Effective Effective: Current

Guideline on Anti-Money Laundering and Counter-Financing of Terrorism (For Licensed Stablecoin Issuers)

HKMA statutory AML/CFT guideline for licensed stablecoin issuers in Hong Kong, setting risk-based controls, CDD, wallet screening, Travel Rule, sanctions, STR and record-keeping expectations from 1 Aug 2025.

Last action: Aug 1, 2025 - Guideline took effect

Profile AML/CFT-related Information for Licensed Stablecoin Issuers
Stablecoins Ordinance Professional Investor Notice (Hong Kong) Cap. 656A; L.N. 126 of 2025 Effective Details Draft Draft: Completed Intro Introduced: Completed Committee In committee: Completed Passed Passed: Completed Enacted Enacted: Completed Effective Effective: Current

Stablecoins Ordinance (Specification of Persons for Section 9(2)(b)(iii)) Notice

Hong Kong subsidiary legislation specifying professional investors as the class of persons for section 9(2)(b)(iii) of the Stablecoins Ordinance.

Last action: Aug 1, 2025 - Notice in force

Profile Cap. 656A Hong Kong e-Legislation
Licensing Handbook for Virtual Asset Trading Platform Operators (Hong Kong) SFC VATP Licensing Handbook (July 2025) Effective Details Draft Draft: Completed Intro Introduced: Completed Committee In committee: Completed Passed Passed: Completed Enacted Enacted: Completed Effective Effective: Current

Licensing Handbook for Virtual Asset Trading Platform Operators

SFC handbook explaining Hong Kong’s dual licensing process for centralized VATP operators under the SFO and AMLO, including applications, approval criteria, responsible officers, notifications, and post-licence matters.

Last action: Jul 15, 2025 - Current handbook version listed

Profile Licensing Handbook for Virtual Asset Trading Platform Operators
Guidelines for Virtual Asset Trading Platform Operators (Hong Kong) SFC VATP Guidelines (June 2023) Effective Details Draft Draft: Completed Intro Introduced: Completed Committee In committee: Completed Passed Passed: Completed Enacted Enacted: Completed Effective Effective: Current

Guidelines for Virtual Asset Trading Platform Operators

Hong Kong SFC guidance for licensed centralized virtual asset trading platform operators, covering conduct, financial resources, custody, token admission, market surveillance and cybersecurity controls.

Last action: Jun 1, 2024 - Non-contravention period ended

Profile Guidelines for Virtual Asset Trading Platform Operators
Hong Kong AMLO Amendment Ordinance 2022 Ord. No. 15 of 2022; Cap. 615 amendment Effective Details Draft Draft: Completed Intro Introduced: Completed Committee In committee: Completed Passed Passed: Completed Enacted Enacted: Completed Effective Effective: Current

Anti-Money Laundering and Counter-Terrorist Financing (Amendment) Ordinance 2022

Hong Kong’s AMLO amendment created SFC licensing for virtual asset exchanges and Customs registration for DPMS, extending AML/CFT, CDD, recordkeeping and supervisory powers.

Last action: Jun 1, 2024 - VATP non-contravention period ended

Profile Anti-Money Laundering and CTF (Amendment) Ordinance 2022
Hong Kong VASP Licensing Regime Ord. No. 15 of 2022; AMLO Cap. 615 Part 5B Effective Details Draft Draft: Completed Intro Introduced: Completed Committee In committee: Completed Passed Passed: Completed Enacted Enacted: Completed Effective Effective: Current

Anti-Money Laundering and Counter-Terrorist Financing (Amendment) Ordinance 2022

Hong Kong’s VASP/VATP regime licenses centralized virtual asset trading platforms under AMLO, with SFC supervision, AML/CFT, custody, governance, KYC and conduct requirements.

Last action: Jun 1, 2024 - Non-contravention period ended

Profile Anti-Money Laundering and CTF (Amendment) Ordinance 2022
Hong Kong SFC AML/CFT Guideline for Licensed Corporations and VASPs G.N. 3120 of 2023; AMLO ss. 7, 53ZTK; SFO s. 399 Effective Details Draft Draft: Completed Intro Introduced: Completed Committee In committee: Completed Passed Passed: Completed Enacted Enacted: Completed Effective Effective: Current

Guideline on Anti-Money Laundering and Counter-Financing of Terrorism (For Licensed Corporations and SFC-licensed Virtual Asset Service Providers)

SFC AML/CFT guidance for licensed corporations and SFC-licensed VASPs, covering risk-based controls, CDD, monitoring, suspicious reporting, records, training, virtual asset risks and Travel Rule requirements.

Last action: Jan 1, 2024 - Travel Rule phase-in completed

Profile AML/CFT Guideline for LCs and SFC-licensed VASPs

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