Legislative Council member Qiu Dagan: Hong Kong Digital Assets New Licensing Ordinance is expected to be passed by the end of the year or early next year

PANews September 23 news, Hong Kong Legislative Council member (science and technology innovation industry) Qiu Dagan said in a keynote speech at the 2026 Shanghai Blockchain International Week and the 12th Blockchain Global Summit that the new licensing system regulations covering virtual asset trading services, custody, etc. are expected to be submitted to the Legislative Council for discussion in the second half of this year, with a view to passing it in the second half of this year or early next year. At that time, the licensing requirements related to Hong Kong's digital assets will be basically cleared up. He also said that the setback of the US Clarity Act is more favorable for Hong Kong in the long run; currently, two licensed stablecoin issuers in Hong Kong are testing different application scenarios.

PANews September 23 news, Hong Kong Legislative Council member (science and technology innovation industry) Qiu Dagan said in a keynote speech at the 2026 Shanghai Blockchain International Week and the 12th Blockchain Global Summit that the new licensing system regulations covering virtual asset trading services, custody, etc. are expected to be submitted to the Legislative Council for discussion in the second half of this year, with a view to passing it in the second half of this year or early next year. At that time, the licensing requirements related to Hong Kong's digital assets will be basically cleared up. He also said that the setback of the US Clarity Act is more favorable for Hong Kong in the long run; currently, two licensed stablecoin issuers in Hong Kong are testing different application scenarios.