Hong Kong to Regulate Virtual Asset (VA) Advisory & Management Service Providers after Finalizing Legislative Proposals for New Regimes under Anti-Money Laundering and Counter-Terrorist Financing Ordinance
27th May 2026 | Hong Kong
Hong Kong will introduce legislations to regulate virtual asset (VA) advisory & management service providers after finalizing legislative proposals for new regimes under Anti-Money Laundering and Counter-Terrorist Financing Ordinance. Announcement (26/5/26): “The Financial Services and the Treasury Bureau (FSTB) and the Securities and Futures Commission (SFC) today published consultation conclusions on the legislative proposal to regulate virtual asset (VA) advisory and management service providers in Hong Kong (Note 1). The proposal for the VA advisory and management regimes received broad market support during the consultation (Note 2). Adhering to the “same business, same risks, same rules” principle, the scope of these regimes will be aligned with those for Type 4 (advising on securities) and Type 9 (asset management) regulated activities under the Securities and Futures Ordinance, respectively. The FSTB and the SFC will now proceed to finalise the legislative proposals for the new regimes under the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (Cap. 615), aiming to introducing a bill into the Legislative Council in 2026. Alongside the two other recent proposals for VA dealing and custody regimes (Note 3), this suite of new regimes will increase participation in Hong Kong’s digital asset market while fostering a robust and secure ecosystem under the SFC’s ASPIRe roadmap (Note 4). Existing and prospective VA advisory and management service providers are strongly encouraged to engage with the SFC early to initiate pre-application discussions. This will allow entities to better understand the proposed regimes, facilitate more efficient licensing processes, and ensure their regulatory compliance under the new regimes.”
“ Hong Kong to Regulate Virtual Asset (VA) Advisory & Management Service Providers after Finalizing Legislative Proposals for New Regimes under Anti-Money Laundering and Counter-Terrorist Financing Ordinance “
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Notes:
- Refer to the press release for the FSTB and the SFC’s further consultation on VA advisory and VA management regimes launched on 24 December 2025.
- A total of 51 responses from a broad spectrum of stakeholders were received. For the list of respondents, please refer to the Annex section of the consultation conclusions paper.
- Please refer to the consultation papers on the legislative proposals to regulate VA dealing and VA custodian service providers on 27 June 2025, and the consultation conclusions on the legislative proposals to regulate VA dealing and VA custodian service providers on 24 December 2025.
- The proposed regimes support “Access” to Hong Kong’s VA market, one of the five pillars under the SFC’s “ASPIRe” roadmap issued on 19 February 2025.
Hong Kong to Regulate Virtual Asset (VA) Advisory & Management Service Providers after Finalizing Legislative Proposals for New Regimes under Anti-Money Laundering and Counter-Terrorist Financing Ordinance
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