In a major move on February 11, 2026, the SFC unveiled guidelines to introduce institutional-grade leverage into the regulated market: VA Margin Financing: Licensed brokers can now provide margin loans to clients. Currently, only Bitcoin (BTC) and Ether (ETH) are eligible as collateral, ensuring "responsible leverage." Perpetual Contracts (Perps): A formal framework now allows licensed platforms to offer leveraged perpetual contracts. However, these are strictly restricted to Professional Investors and require robust risk-control mechanisms. 2. Expansion of Licensing Regimes Hong Kong is bridging the gap between centralized exchanges and the broader ecosystem by amending the Anti-Money Laundering Ordinance (AMLO): VA Dealing & OTC: New licenses are required for any entity providing buy/sell services, including physical over-the-counter (OTC) shops. VA Custodians: New regulations enforce high standards for private key management, asset segregation, and mandatory insurance/compensation schemes. Legislation Timeline: Draft bills for these regimes are expected to be introduced to the Legislative Council throughout 2026. 3. Stablecoin Issuer Licensing The HKMA is set to grant the first batch of stablecoin licenses in March 2026. Strict Reserves: Issuers must maintain 100% high-quality fiat-backed reserves (typically HKD or USD). Redemption Rights: Holders must be able to redeem stablecoins at par value, usually within one business day. Prohibition on Unlicensed Marketing: It is strictly illegal to market non-licensed stablecoins to the Hong Kong public. 4. Enhanced Market Access (Pillar A & P) The SFC has streamlined how assets are listed to increase market vibrancy: Removal of the 12-month Rule: The requirement for a token to have a 12-month trading history before being offered to professional investors has been relaxed. Liquidity Sharing: New rules allow licensed platforms to tap into global liquidity pools, which helps tighten price spreads and improves execution for local traders.
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
11 Likes
Reward
11
14
Repost
Share
Comment
0/400
Falcon_Official
· 25m ago
Wishing you great wealth in the Year of the Horse 🐴
#GateSquare$50KRedPacketGiveaway Advanced Trading: Margin & Perps
In a major move on February 11, 2026, the SFC unveiled guidelines to introduce institutional-grade leverage into the regulated market:
VA Margin Financing: Licensed brokers can now provide margin loans to clients. Currently, only Bitcoin (BTC) and Ether (ETH) are eligible as collateral, ensuring "responsible leverage."
Perpetual Contracts (Perps): A formal framework now allows licensed platforms to offer leveraged perpetual contracts. However, these are strictly restricted to Professional Investors and require robust risk-control mechanisms.
2. Expansion of Licensing Regimes
Hong Kong is bridging the gap between centralized exchanges and the broader ecosystem by amending the Anti-Money Laundering Ordinance (AMLO):
VA Dealing & OTC: New licenses are required for any entity providing buy/sell services, including physical over-the-counter (OTC) shops.
VA Custodians: New regulations enforce high standards for private key management, asset segregation, and mandatory insurance/compensation schemes.
Legislation Timeline: Draft bills for these regimes are expected to be introduced to the Legislative Council throughout 2026.
3. Stablecoin Issuer Licensing
The HKMA is set to grant the first batch of stablecoin licenses in March 2026.
Strict Reserves: Issuers must maintain 100% high-quality fiat-backed reserves (typically HKD or USD).
Redemption Rights: Holders must be able to redeem stablecoins at par value, usually within one business day.
Prohibition on Unlicensed Marketing: It is strictly illegal to market non-licensed stablecoins to the Hong Kong public.
4. Enhanced Market Access (Pillar A & P)
The SFC has streamlined how assets are listed to increase market vibrancy:
Removal of the 12-month Rule: The requirement for a token to have a 12-month trading history before being offered to professional investors has been relaxed.
Liquidity Sharing: New rules allow licensed platforms to tap into global liquidity pools, which helps tighten price spreads and improves execution for local traders.