> ## Content Index > Fetch the complete content index at: https://knowcrypto.fun/llms.txt > Use this file to discover other available public pages before exploring further. # Crypto in Hong Kong: SFC-licensed platforms, stablecoins and tax - URL: https://knowcrypto.fun/crypto-in-hong-kong/ - Published: 2026-11-02T12:02:34.000Z - Updated: 2026-11-02T12:02:34.000Z - Description: How the SFC licenses crypto platforms, how to check one, the new stablecoin rules, how crypto is taxed, and where to report scams. - Author: Know Crypto Editor - Tags: Hong Kong, Tax, Buying Crypto is legal in Hong Kong, and trading platforms that serve Hong Kong investors must be licensed by the Securities and Futures Commission (SFC). As of October 2026, 13 platforms held a full SFC licence. Hong Kong has no capital gains tax, so individuals who hold crypto as an investment generally pay no tax on gains, but profits from trading as a business can be taxed. This guide explains how the SFC licenses platforms, how to check one, the new stablecoin rules, how crypto is taxed, and where to report scams. ## At a glance | Topic | The short version | | ------------------ | -------------------------------------------------------- | | Regulators | SFC for platforms; HKMA for stablecoin issuers | | Check a platform | SFC lists of licensed and suspicious platforms | | Licensed platforms | 13 as of 16 October 2026 | | Tax on gains | None for investors; profits tax if trading is a business | | Crypto ETFs | Spot Bitcoin and Ether ETFs since April 2024 | | Report a scam | Anti-Scam Helpline 18222 and Scameter | ## Who regulates crypto in Hong Kong ### SFC licensing for trading platforms Since 1 June 2023, any centralised platform offering crypto trading to Hong Kong investors must hold an SFC licence. Licensed platforms can serve retail investors, but they must check that you understand the risks and generally offer retail customers only larger, more established tokens. The SFC publishes several lists on its website: - **Licensed platforms.** On 16 October 2026 the list had 13 names, including OSL Exchange, HashKey Exchange, HKVAX, HKbitEX, Bullish and others. - **Applicants**, which shouldn't market to Hong Kong investors unless the SFC marks them as "deemed licensed". - **Platforms closing down** in Hong Kong. - **Suspicious platforms**, which the SFC warns are unlicensed or may be frauds. Check all of them on the [SFC's virtual asset platform lists](https://www.sfc.hk/en/Welcome-to-the-Fintech-Contact-Point/Virtual-assets/Virtual-asset-trading-platforms-operators/Lists-of-virtual-asset-trading-platforms?ref=knowcrypto.fun) before you deposit. ### Why this matters: the JPEX case In 2023, the unlicensed platform JPEX collapsed after heavy promotion in Hong Kong, leaving thousands of investors unable to withdraw. It became one of the city's biggest fraud cases, and soon afterwards the SFC began publishing its list of suspicious platforms. An unlicensed platform with big adverts, influencers and high-yield offers is exactly the pattern to avoid. ### Stablecoins Since 1 August 2025, issuing a fiat-backed stablecoin in Hong Kong, or any Hong Kong dollar stablecoin, requires a licence from the Hong Kong Monetary Authority (HKMA). The HKMA issued its first licences in 2026\. Only stablecoins from licensed issuers can be offered to retail investors in Hong Kong, through licensed platforms, banks and other authorised firms. Our [stablecoin guide](https://knowcrypto.fun/what-are-stablecoins/) explains how stablecoins work. ### Crypto ETFs Spot Bitcoin and Ether ETFs have traded on the Hong Kong Stock Exchange since April 2024\. They let you get price exposure through a normal brokerage account without holding the coins yourself. ## How crypto is taxed in Hong Kong ### No capital gains tax Hong Kong doesn't tax capital gains. If you buy crypto as a long-term investment and sell it later at a profit, that gain is generally not taxed. ### Trading profits can be taxed The Inland Revenue Department (IRD) can charge profits tax if your crypto activity amounts to a trade or business, for example frequent buying and selling with the aim of short-term profit, or running it in an organised, commercial way. The IRD looks at all the facts, including how often you trade, how long you hold, and how the activity is financed. ### Paid in crypto If your employer pays you in crypto, it counts as income for salaries tax, valued in Hong Kong dollars when you receive it. For a comparison with other countries, see [how crypto is taxed around the world](https://knowcrypto.fun/how-crypto-is-taxed/). ## How to buy crypto safely in Hong Kong 1. **Use a platform on the SFC's licensed list**, and check it isn't on the suspicious list. 2. **Expect suitability checks.** Licensed platforms must assess your knowledge before you trade. 3. **Be wary of over-the-counter crypto shops** and in-person cash deals. Police have warned that some are linked to scams and money laundering. 4. **Use strong security**, and move long-term holdings to a wallet you control. See our [wallet guide](https://knowcrypto.fun/crypto-wallets-explained/). 5. **Keep records**, especially if you trade often. Our [guide to choosing an exchange](https://knowcrypto.fun/how-to-choose-a-crypto-exchange/) covers what else to check. ## Scams and where to report them Before you send money to a platform, website or phone number, check it with **Scameter**, the Hong Kong Police's scam search tool on the CyberDefender website. If you think you're being scammed: - Call the Anti-Scam Helpline on **18222**. - Report to the police through the Hong Kong Police e-Report Centre or at a police station. - Contact your bank straight away, as it may be able to stop a payment. Our [scam guide](https://knowcrypto.fun/crypto-scams-india-uae/) explains the common red flags. ## FAQ ### Is crypto legal in Hong Kong? Yes. Individuals can buy, hold and sell crypto. Trading platforms that serve Hong Kong investors need an SFC licence. ### Do I pay tax on crypto gains in Hong Kong? Generally not, if you hold crypto as an investment, because Hong Kong has no capital gains tax. Profits from crypto trading that amounts to a business can be taxed. ### How do I check if a crypto exchange is licensed in Hong Kong? Look it up on the SFC's lists of virtual asset trading platforms, and check that it isn't on the SFC's suspicious platforms list. ### Can I buy stablecoins in Hong Kong? Retail investors can buy stablecoins from HKMA-licensed issuers through licensed platforms, banks and other authorised firms. Stablecoins from unlicensed issuers are limited to professional investors. Sources: [SFC, Lists of virtual asset trading platforms (16 October 2026)](https://www.sfc.hk/en/Welcome-to-the-Fintech-Contact-Point/Virtual-assets/Virtual-asset-trading-platforms-operators/Lists-of-virtual-asset-trading-platforms?ref=knowcrypto.fun); [Davis Polk, Hong Kong's stablecoin regime now in effect](https://www.davispolk.com/insights/client-update/hong-kongs-licensing-and-regulatory-framework-stablecoins-now-effect?ref=knowcrypto.fun); [KPMG, Taxation of digital assets in Hong Kong](https://kpmg.com/cn/en/home/insights/2020/04/tax-alert-8-hk-taxation-of-digital-assets-in-hk.html?ref=knowcrypto.fun). *This is not financial advice. Crypto is volatile and you can lose money. Do your own research.*