Sep 11, 202516542 Views
Sep 11, 2025
the Hong Kong Monetary Authority (HKMA) has released a new regulatory policy manual outlining the classification of crypto assets under the Basel capital rules. Starting from January 1, 2026, Hong Kong will implement the Basel framework by amending its capital, disclosure, and significant risk exposure rules. The manual categorizes crypto assets into two groups. The first group includes tokens pegged to traditional assets and stablecoins with effective stabilization mechanisms, which will be treated similarly to equivalent traditional assets. The second group includes unsecured tokens, such as Bitcoin and Ether, as well as ineligible tokenized assets and stablecoins, which will face comprehensive capitalization and stricter treatment. Stablecoins licensed under Hong Kong's latest "Stablecoin Ordinance" will be considered lower-risk assets. Industry professionals can provide feedback on the revised rules by October 10th.
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