Haciyev Reşit 
Hong Kong has taken another major step in the digital asset space by announcing a new regulation that will allow local crypto exchanges to access global liquidity. The move marks the latest effort in Hong Kong’s push to establish itself as one of Asia’s leading cryptocurrency hubs.
Details of the New Regulation
The Securities and Futures Commission (SFC) of Hong Kong issued two new circulars on Monday, granting local crypto exchanges permission to operate via a shared order book system with overseas trading platforms.
This decision represents a significant shift away from Hong Kong’s previously strict trading framework, which only permitted pre-funded, domestically settled transactions within the region. Under the new system, SFC-licensed exchanges will be able to access global order books, increasing liquidity and price competitiveness in the market. However, the SFC emphasized that exchanges must obtain prior written approval before joining such integrations. Each application will be reviewed based on security, investor protection, and data-sharing standards.
SFC Chief Executive Leung: “We Aim to Integrate With Global Markets”
During Hong Kong Fintech Week, SFC CEO Julia Leung explained the purpose of the new policy:
“This integration will enable local investors to benefit from better price discovery and more competitive trading opportunities. It will also allow Hong Kong exchanges to effectively tap into global market liquidity.”
Leung also stressed the need to balance regulatory flexibility with financial stability:
“Overly stringent requirements risk driving liquidity and talent to jurisdictions with softer regulations. But weak oversight undermines trust and stability.”
The second circular issued by the SFC introduced a key exemption for token and stablecoin projects licensed by the Hong Kong Monetary Authority (HKMA). Under the new rule, tokens intended for professional investors will no longer be required to have a 12-month trading history prior to listing — a move expected to ease operations for new stablecoin issuers and blockchain-based financial institutions.
A New Era in Hong Kong’s Crypto Strategy
Hong Kong is reshaping its crypto policies amid growing global regulatory competition. Since U.S. President Donald Trump’s return to office, the rise of pro-crypto rhetoric in Washington has encouraged Asian financial centers to reposition themselves strategically. Hong Kong now aims to create a licensed, regulation-friendly environment for crypto exchanges, stablecoin issuers, and Web3 startups.
You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.