Hong Kong’s Securities and Futures Fee reportedly plans to increase Chief Government Officer Julia Leung’s tenure by three years.
The extension, which might hold Leung within the function till the top of 2028, comes because the regulator advances its oversight of digital asset markets and works to strengthen Hong Kong’s place as a world monetary heart.
Stablecoin Regulation Takes Impact
The SFC has efficiently carried out Hong Kong’s complete regulatory framework for digital belongings. On August 1, 2025, the territory’s stablecoin ordinance got here into drive, establishing a licensing regime for issuers of fiat-referenced stablecoins. The Hong Kong Financial Authority oversees the framework, which requires stablecoin issuers to acquire licenses and keep full backing of reserve belongings.
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Underneath the brand new regime, stablecoins should all the time be absolutely backed by reserve belongings, with extra over-collateralization required to cowl market dangers. The licensing utility interval closed on September 30, 2025, with the primary licenses anticipated to be granted in early 2026. The framework represents a big step in Hong Kong’s technique to create a regulated surroundings for digital belongings whereas sustaining investor safety requirements.
The regulatory strategy seeks to stability innovation with safeguards. The HKMA and SFC have emphasised that the framework goals to facilitate the event of the stablecoin market in Hong Kong whereas addressing potential dangers to financial and monetary stability. Business individuals have famous that the stringent necessities place Hong Kong amongst jurisdictions with complete stablecoin oversight.
Market Oversight and Investor Safety
In August 2025, the SFC and HKMA issued a joint assertion addressing market actions associated to stablecoin-associated shares.
“Latest share value actions related to the stablecoin idea underscore the significance for buyers to be clear-minded concerning the dangers concerned and the potential monetary losses from making related investments,” Leung mentioned within the assertion. She additionally cautioned buyers to “be cautious of unsubstantiated claims, significantly these showing on social media.”
Leung’s present time period is scheduled to run out on December 31, 2025. She grew to become the SFC’s first feminine CEO in January 2023 and has overseen vital developments in Hong Kong’s digital asset regulation since then. The tenure extension displays authorities confidence in her management and comes throughout a interval of regulatory transformation in monetary companies.
The SFC has carried out a licensing regime for digital asset buying and selling platforms. Operators should meet stringent requirements for custody, cybersecurity, and investor safety. This framework has established Hong Kong as a pioneer. The territory is among the many first main monetary facilities to introduce complete cryptocurrency change regulation. The strategy has attracted home and worldwide digital asset service suppliers searching for to function beneath a transparent regulatory construction.
Hong Kong has additionally seen a resurgence as a number one venue for preliminary public choices, with monetary leaders highlighting momentum in attracting listings. Increasing digital asset oversight has inspired partnerships with trade individuals, together with tokenized asset corporations. The SFC’s regulatory initiatives beneath Leung’s management have centered on supporting market growth. In addition they keep oversight requirements in keeping with Hong Kong’s standing as a world monetary hub.