Cryptocurrency Regulation

Overview

A balanced regulatory approach is crucial to address risks of virtual assets on the one hand, and to minimize the compliance burden to businesses on the other.

ICOs and other cryptocurrency offerings

Licensing and regulation of Virtual Assets Trading Platforms (VATPs)

Regulation of cryptocurrency exchanges

Regulation of initial coin offerings (ICOs), initial exchange offerings (IEOs) and stablecoin offerings

Drafting offering documents including review of white papers

Formation of cryptocurrency investment funds

Cryptocurrency block trades and escrow

Regulatory advice on all aspects of the cryptocurrency markets

How we can help

Cryptocurrency

Financial Markets

Securities Regulation

Hong Kong SFC Unveils Major Upgrades for Virtual Asset Trading Platforms: To Allow Global Liquidity, More Products, with Tighter Risk Controls https://hauzen.hk/wp-content/uploads/2025/11/bitcoin-7678812_1280.jpg 1280 853 Jas Wu Jas Wu https://secure.gravatar.com/avatar/240c5b9597a6b59e6f3c23eb32d19095?s=96&d=mm&r=g 07/11/2025 07/11/2025

Hong Kong SFC Unveils Major Upgrades for Virtual Asset Trading Platforms: To Allow Global Liquidity, More Products, with Tighter Risk Controls

1. Opening Global Liquidity Pools: Shared Order Book Rules The Hong Kong Securities and Futures Commission (SFC) announced on 3 November 2025 that licensed Virtual Asset Trading Platform Operators (VATPs) can now integrate their order books with affiliated virtual asset trading platform operators (OVATPs). This innovation — called a Shared Order Book — allows trades…

Hong Kong Bonds Tokenization Support – How Can Hong Kong Subsidize Your Bond Tokenization Expenses? https://hauzen.hk/wp-content/uploads/2025/10/pexels-alesiakozik-6766411-scaled.jpg 2560 1707 Jas Wu Jas Wu https://secure.gravatar.com/avatar/240c5b9597a6b59e6f3c23eb32d19095?s=96&d=mm&r=g 08/10/2025 28/10/2025

Hong Kong Bonds Tokenization Support – How Can Hong Kong Subsidize Your Bond Tokenization Expenses?

On 28 November 2024, the Hong Kong Monetary Authority (“HKMA”) launched the Digital Bond Grant Scheme (“DBGS”) and began accepting applications. The DBGS will run for an initial period of three years, providing financial support of up to HK$2.5 million to eligible digital bond issuers. The DBGS is designed to promote the growth of Hong…

Managing Cryptocurrencies in Hong Kong: Do You Need a Licence Uplift? https://hauzen.hk/wp-content/uploads/2025/10/engin-akyurt-btqsDhCD81o-unsplash-scaled.jpg 2560 1920 Jas Wu Jas Wu https://secure.gravatar.com/avatar/240c5b9597a6b59e6f3c23eb32d19095?s=96&d=mm&r=g 03/10/2025 28/10/2025

Managing Cryptocurrencies in Hong Kong: Do You Need a Licence Uplift?

Managing Cryptocurrencies in Hong Kong: Do You Need a Licence Uplift? As virtual assets (VAs) — including cryptocurrencies such as Bitcoin (“BTC”) and Ethereum (“ETH”) — become more integrated into traditional financial services, Hong Kong regulators have been updating their guidance on how intermediaries should approach VA-related business. Whether you’re managing portfolios or distributing or…

SFC and HKMA Issue Circulars on Staking Services https://hauzen.hk/wp-content/uploads/2018/03/bitcoin-andre-francois-mckenzie-9qpCNwDeBVU-unsplash_1400x935.jpg 1400 935 Hauzen LLP Hauzen LLP https://secure.gravatar.com/avatar/89f4c19e43caa7e0225dad1d9dad1fec?s=96&d=mm&r=g 25/04/2025 11/09/2025

SFC and HKMA Issue Circulars on Staking Services

Hong Kong now permits licensed crypto platforms to provide staking services with safeguards—custody controls, transparency, regulatory oversight, and more.

Concise Guide to Money Service Operator (“MSO”) Licensing in Hong Kong https://hauzen.hk/wp-content/uploads/2020/09/mobile-phone-pexels-ono-kosuki-5999931_1400x788.jpg 1400 788 Basil Hwang Basil Hwang https://secure.gravatar.com/avatar/5d3f58de143db081e366aef68a3a5c15?s=96&d=mm&r=g 06/03/2025 11/09/2025

Concise Guide to Money Service Operator (“MSO”) Licensing in Hong Kong

Hong Kong’s vibrant financial landscape presents vast opportunities for businesses in the money service sector. Navigating the regulatory requirements for Money Service Operators (“MSO”) demands careful compliance with Hong Kong’s Anti-Money Laundering and Counter-Terrorist Financing Ordinance (Cap. 615) (“AMLO”). This guide provides an overview of the key requirements, eligibility criteria, and procedures necessary for obtaining…

SFC Unveils “A-S-P-I-Re” Roadmap: A Strategic Blueprint for Virtual Asset Regulation https://hauzen.hk/wp-content/uploads/2023/04/bitcoin-rythik-A-p_6tFvGF8-unsplash_1400x787.jpg 1400 787 Hauzen LLP Hauzen LLP https://secure.gravatar.com/avatar/89f4c19e43caa7e0225dad1d9dad1fec?s=96&d=mm&r=g 05/03/2025 05/03/2025

SFC Unveils “A-S-P-I-Re” Roadmap: A Strategic Blueprint for Virtual Asset Regulation

On 19 February 2025, the Securities and Futures Commission (“SFC”) of Hong Kong released its “A-S-P-I-Re” regulatory roadmap, a five-pillar regulatory framework designed to solidify the city’s position as a global hub for virtual assets (“VAs”) while balancing innovation with investor protection. For virtual asset trading platforms (“VATPs”) and investors, this roadmap signals both opportunities…

The SFC’s Initiatives to Grow Hong Kong’s Virtual Asset Market https://hauzen.hk/wp-content/uploads/2023/04/bitcoin-rythik-A-p_6tFvGF8-unsplash_1400x787.jpg 1400 787 Hauzen LLP Hauzen LLP https://secure.gravatar.com/avatar/89f4c19e43caa7e0225dad1d9dad1fec?s=96&d=mm&r=g 13/01/2025 13/01/2025

The SFC’s Initiatives to Grow Hong Kong’s Virtual Asset Market

The SFC outlines initiatives for Hong Kong’s virtual asset market, including swift licensing, a consultative panel, and tokenisation efforts.

Landmark Ruling Involving Decentralised Autonomous Organisations (DAOs) https://hauzen.hk/wp-content/uploads/2023/04/bitcoin-rythik-A-p_6tFvGF8-unsplash_1400x787.jpg 1400 787 Hauzen LLP Hauzen LLP https://secure.gravatar.com/avatar/89f4c19e43caa7e0225dad1d9dad1fec?s=96&d=mm&r=g 28/08/2024 02/09/2024

Landmark Ruling Involving Decentralised Autonomous Organisations (DAOs)

This Hong Kong ruling highlights the need for transparency in DAOs and acknowledges the legal complexities of blockchain and decentralized finance.

Hong Kong Takes a Step Closer to Enabling Stablecoins https://hauzen.hk/wp-content/uploads/2021/12/papers-pexels-brotin-biswas-518543_1400x788sm.jpg 1400 788 Hauzen LLP Hauzen LLP https://secure.gravatar.com/avatar/89f4c19e43caa7e0225dad1d9dad1fec?s=96&d=mm&r=g 29/07/2024 08/08/2024

Hong Kong Takes a Step Closer to Enabling Stablecoins

Introduction The Hong Kong Monetary Authority (“HKMA”), in collaboration with the Financial Services and the Treasury Bureau (“FSTB”), released a public consultation paper on 27 December 2023 outlining a legislative proposal for the regulation of stablecoin issuers in Hong Kong. After completing a two month-long public consultation in February 2024, the HKMA and FSTB finally…

Guide to Obtaining a VASP Licence in Hong Kong https://hauzen.hk/wp-content/uploads/2023/06/memory-pexels-pixabay-270549_1400x788.jpg 1400 788 Hauzen LLP Hauzen LLP https://secure.gravatar.com/avatar/89f4c19e43caa7e0225dad1d9dad1fec?s=96&d=mm&r=g 01/06/2023 28/02/2024

Guide to Obtaining a VASP Licence in Hong Kong

A simplified guide to requirements virtual asset trading platforms (or cryptocurrency exchanges) must meet to obtain a virtual asset service provider licence.

Hong Kong Embraces Cryptocurrency: Get Ready for New VASP Regime https://hauzen.hk/wp-content/uploads/2021/11/circuitboard-ryan-tpAyLp9Ro50-unsplash_1400x787.jpg 1400 787 Basil Hwang Basil Hwang https://secure.gravatar.com/avatar/5d3f58de143db081e366aef68a3a5c15?s=96&d=mm&r=g 13/02/2023 15/08/2024

Hong Kong Embraces Cryptocurrency: Get Ready for New VASP Regime

Operating a virtual asset in Hong Kong? Learn what you need to do to get ready for the new SFC legislation starting 01 June 2023!

Collapse of FTX Hastens Calls for Cryptocurrency Regulations https://hauzen.hk/wp-content/uploads/2022/01/bitcoin-pexels-alesia-kozik-6778581_1400x788sm.jpg 1400 788 Byron Chow Byron Chow https://secure.gravatar.com/avatar/da4b3f4ddc0f2cc2ce4863d34966070c?s=96&d=mm&r=g 18/01/2023 19/06/2024

Collapse of FTX Hastens Calls for Cryptocurrency Regulations

FTX’s collapse highlights the need to put in place regulations for cryptocurrency in the world’s major financial markets, and Hong Kong is committed to addressing such a need.

FSTB Concludes Landmark Consultation on New Licensing Regime for VASPs https://hauzen.hk/wp-content/uploads/2022/01/bitcoin-pexels-alesia-kozik-6778581_1400x788sm.jpg 1400 788 Basil Hwang Basil Hwang https://secure.gravatar.com/avatar/5d3f58de143db081e366aef68a3a5c15?s=96&d=mm&r=g 03/06/2021 19/06/2024

FSTB Concludes Landmark Consultation on New Licensing Regime for VASPs

Proposal has received broad support from respondents, who understand the importance of regulating VASPs in fulfilment of the obligations outlined by the FATF.

Virtual Assets: A Regulatory Overview https://hauzen.hk/wp-content/uploads/2018/03/bitcoin-andre-francois-mckenzie-9qpCNwDeBVU-unsplash_1400x935.jpg 1400 935 Hauzen LLP Hauzen LLP https://secure.gravatar.com/avatar/89f4c19e43caa7e0225dad1d9dad1fec?s=96&d=mm&r=g 03/06/2021 10/01/2022

Virtual Assets: A Regulatory Overview

A balanced regulatory approach is crucial to address risks of virtual assets on the one hand, and to minimize the compliance burden to businesses on the other.