Hong Kong Treasury: This year will submit four virtual asset service providers regulatory regime proposals and advance the gold clearing system pilot operation

Per a Hong Kong government news release, Christopher Hui—Hong Kong’s Secretary for Financial Services and the Treasury—stated at a Legislative Council (LegCo) policy briefing on January 30 that the Treasury, in collaboration with the Securities and Futures Commission (SFC), is finalizing details of a regulatory framework for virtual asset trading and custody services. The goal is to submit a bill to LegCo this year regulating four types of service providers, including those offering virtual asset advice and virtual asset portfolio management. Additionally, Hong Kong’s Stablecoin Bill took effect in August 2025, and the Hong Kong Monetary Authority (HKMA) is currently processing related license applications. To build an international gold trading market, Hong Kong has set a target to expand its gold storage to over 2,000 tons within three years, positioning itself as a regional gold reserve hub. A wholly government-owned entity—the Hong Kong Bullion Central Clearing System Governing Body—has been established, with plans to launch a trial run of the clearing system this year. The Treasury is also studying ways to optimize tax concession measures for the financial center and exploring shortening the stock settlement cycle from the current T+2 to T+1.