Hong Kong’s Crypto Rulebook: Building a Regulated Hub
Much like Singapore, Japan, and South Korea, Hong Kong does not regulate crypto through a single omnibus law. Instead, it has built a layered framework that now functions as its MiCA-equivalent in practice. As of the time of writing, that framework is no longer aspirational. It is live, enforced, and shaping market behavior.
The system is driven by the Hong Kong Securities and Futures Commission (SFC) and the Hong Kong Monetary Authority (HKMA). The policy direction is clear. Hong Kong wants crypto activity. But only inside a regulated perimeter. No shortcuts.
Licensing Regime for Crypto Trading Platforms
The cornerstone of Hong Kong’s regulatory framework is the SFC’s Virtual Asset Trading Platform (VATP) licensing…
