Hong Kong

Comprehensive Travel Rule: In force

FrameworkVASP licensing (2023) + Stablecoins Ordinance (2025)

Travel RuleIn force

FATF statusNot listed

Overview

Hong Kong introduced a mandatory licensing regime for virtual-asset trading platforms under the SFC in 2023, and the Hong Kong Monetary Authority's Stablecoins Ordinance — a licensing regime for fiat-referenced stablecoin issuers — took effect in 2025.

Regulatory framework

The SFC licenses virtual-asset trading platforms; the HKMA licenses stablecoin issuers with reserve, redemption and disclosure requirements.

Licensing & authorisation

Trading platforms require an SFC licence; stablecoin issuers require an HKMA licence.

AML & Travel Rule

AML/CFT obligations and a Travel Rule apply to licensed platforms.

Track developments

This jurisdiction isn't yet on the live wire (its regulator doesn't publish a machine-readable feed) — follow the regulator directly.

REGULATOR NEWS →

Sources & official links

← All jurisdictions