#HongKongPlansNewVAGuidelines

As of 2026, Hong Kong is officially putting an end to the "Wild West" era of digital assets, entering a new regulatory period blended with the discipline of traditional finance. These latest developments, gathered under the hashtag #HongKongPlansNewVAGuidelines, are transforming the city from a mere trading hub into a global setter of regulatory standards.
Here are the new Virtual Asset (VA) guidelines implemented by Hong Kong as of February 2026 and their market impacts:
Hong Kong’s Digital Transformation: The 2026 New Regulatory Roadmap
The Hong Kong Securities and Futures Commission (SFC) and the Monetary Authority (HKMA) have released a comprehensive update package to make the digital asset ecosystem safer and more institution-friendly. These new guidelines aim to maximize investor protection while paving the way for innovation.
1. Unified AMLO Regime: The Era of Single-Roof Licensing
The most significant revolution of 2026 has been the Unified Licensing Regime introduced for Virtual Asset Service Providers (VASPs). Now, not only trading platforms but all entities providing virtual asset consultancy, portfolio management, and custody services must obtain a full license from the SFC.
Removal of Thresholds: The previously applied "10% de minimis" rule has been abolished, making it mandatory for all fund managers holding digital assets—regardless of the amount—to be licensed.
2. March 2026 Deadline for Stablecoins
The HKMA has entered the final stretch of the licensing process for fiat-linked stablecoin issuers. As of March 2026, the sale and distribution of unlicensed stablecoins in Hong Kong will be strictly prohibited. This ensures that only assets with 1:1 reserve backing and regular audits remain in the market, solidifying market confidence.
3. Derivative Products for Professional Investors
According to a new circular published in February 2026, licensed platforms are now permitted to offer perpetual contracts to professional investors. This step is seen as a critical part of Hong Kong’s strategy to attract global liquidity to the city. Additionally, restrictions on market makers operating on licensed platforms have been eased, provided they meet operational independence requirements.
4. Accounting and Transparency Standards (HKICPA)
The Hong Kong Institute of Certified Public Accountants (HKICPA) has prepared a new three-stage guidance set for reporting virtual assets within 2026. The initial sections of this guide provide clarity on how cryptocurrencies and stablecoins should be represented on balance sheets, facilitating the entry of public companies into this space.
Strategic Analysis and Future Projection
These moves by Hong Kong elevate the city to the position of an "offshore laboratory," contrasting particularly with Mainland China's stringent stance. The 2026 vision is not merely a matter of banning or permitting; it is an effort to make digital assets fully compatible with Tax Reporting Standards (OECD) and traditional banking supervision.
With these new guidelines, an increase in Hong Kong-based institutional custody services and staking-based investment products is expected in the coming period.