#HongKongPlansNewVAGuidelines Hong Kong: The New Legal Capital of Digital Assets
As of the first quarter of 2026, the Securities and Futures Commission (SFC) and the Hong Kong Monetary Authority (HKMA) have implemented three major regulatory steps that are fundamentally transforming the sector.
1. Comprehensive Licensing Regime (VASP 2.0)
Hong Kong has transitioned to a new legal framework that covers not only exchanges but also over-the-counter (OTC) brokers, custody service providers, and portfolio managers.
Mandatory Licensing: It is now compulsory to obtain specific authorization from the