Catenaa, Friday, November 07, 2025-Hong Kong’s financial regulator will allow licensed crypto exchanges to connect with global order books, ending the city’s isolated trading model and expanding market access, officials announced Monday at Hong Kong Fintech Week.
The Securities and Futures Commission (SFC) said the rule change, detailed in a circular expected later today, aligns digital asset oversight with traditional financial market rules.
The move aims to attract more trading activity and global firms to Hong Kong’s digital finance hub.
Under the revised framework, locally licensed exchanges will be able to integrate with international liquidity pools. Regulators are also preparing new licenses for crypto dealers, custodians, and stablecoin issuers to strengthen the city’s ecosystem.
The SFC will ease token listing requirements for professional investors by removing the 12-month track record rule, while the Hong Kong Monetary Authority plans to issue the first stablecoin licenses next year.
Currently, 11 exchanges hold full SFC licenses and 49 operate as brokers. The new rules could allow platforms like Binance and Coinbase to enter Hong Kong more easily through brokerage models.
The government’s updated “LEAP” digital asset framework centers on legal clarity, real-world asset tokenization, and talent development, with stablecoin regulation set to begin August 1. It also includes plans for tokenized bonds, ETFs, and renewable energy assets to boost fintech innovation.
