Hong Kong
Regulated Partly Confirmed Verified August 24, 2026
Centralised virtual-asset trading platforms serving Hong Kong require SFC licensing. Fiat-referenced stablecoin issuance requires an HKMA licence under the Stablecoins Ordinance.
2
Total Laws (incl. applicable EU-wide)
0
Effective Laws
At a Glance
Is holding crypto allowed?
Allowed
Is crypto trading allowed?
Regulated
Is P2P trading allowed?
Allowed
Are crypto payments allowed?
Allowed
Is crypto legal tender?
No
Is mining allowed?
Allowed
Is staking allowed?
Regulated
Is DeFi participation allowed?
Regulated
Are stablecoins allowed or regulated?
Regulated
Activity Status Matrix
| Activity | Status | Details |
|---|---|---|
| Holding Crypto | Allowed | Is holding crypto allowed? |
| Crypto Trading | Regulated | Is crypto trading allowed? |
| P2P Trading | Allowed | Is P2P trading allowed? |
| Crypto Payments | Allowed | Are crypto payments allowed? |
| Legal Tender | No | Is crypto legal tender? |
| Mining | Allowed | Is mining allowed? |
| Staking | Regulated | Is staking allowed? |
| DeFi | Regulated | Is DeFi participation allowed? |
| Stablecoins | Regulated | Are stablecoins allowed or regulated? |
| NFTs | Regulated | Are NFTs allowed or regulated? |
| Token Launches | Regulated | Are token launches allowed? |
| Crypto Advertising | Regulated | Is crypto advertising allowed? |
| Banking Access | Regulated | Do crypto businesses have banking access? |
Regulation Overview
Hong Kong operates a regulated virtual-asset market. Centralised virtual-asset trading platforms that operate in Hong Kong or actively market to Hong Kong investors require SFC licensing, and retail access is limited to licensed platforms and eligible products under conduct requirements. The Stablecoins Ordinance took effect on 1 August 2025 and requires HKMA licensing for specified fiat-referenced stablecoin issuance and related activities. Additional dealing and custody regimes have been under development. Tax treatment follows Hong Kong's territorial profits-tax principles rather than a standalone crypto tax.
Tax Information
Hong Kong has no general capital-gains tax. Profits from crypto can be subject to profits tax when they arise from a trade, profession or business carried on in Hong Kong; source and intention are fact dependent.
Individual Tax Treatment
Long-term investment gains are generally capital in nature and not taxed as such, while frequent or commercial dealing may constitute a taxable business. Crypto received as remuneration can be taxable income.
Business Tax Treatment
Businesses apply ordinary territorial profits-tax principles. Classification of tokens, source of profits, business purpose and accounting treatment determine the result.
Business & Licensing
VATPs require SFC licensing. Issuers of in-scope fiat-referenced stablecoins require an HKMA licence. Securities-token dealing, fund management and advisory services can trigger additional SFC authorisation.
AML / KYC Requirements
Licensed VATPs and stablecoin issuers must follow AML/CFT, customer due diligence, custody, governance, recordkeeping and travel-rule requirements under their regimes.
Crypto Laws & Regulations in Hong Kong
Acteffective
Hong Kong Stablecoins Ordinance
Stablecoins Ordinance
Published: May 30, 2025Effective: August 1, 2025Ref: Stablecoins Ordinance 2025
Creates a licensing regime for issuers of specified fiat-referenced stablecoins.
StablecoinsLicensingPaymentsAML/KYC
Official Source Regulationeffective
Hong Kong VATP Licensing Regime
AMLO virtual asset trading platform licensing regime
Published: December 7, 2022Effective: June 1, 2023Ref: AMLO VATP Regime
Requires centralised VATPs operating in or marketing to Hong Kong to obtain SFC licensing.
LicensingExchangesCustodyAML/KYC
Official Source 
