Policy Events Tracked: 38
Jurisdictions Covered: 8
Last Updated: April 05, 2026
Q: Which APAC jurisdiction has the most progressive crypto licensing framework framework?
A: Based on our policy tracking, Singapore and Hong Kong lead in crypto licensing framework regulatory clarity. See the comparison below for details.
Q: What are the key trends in crypto licensing framework across Asia-Pacific?
A: We've tracked 38 policy events across 8 jurisdictions. Major trends include regulatory harmonization efforts and increasing institutional adoption frameworks.
Q: How can I compare crypto licensing framework requirements across jurisdictions?
A: Use our policy tracker to filter by topic and compare requirements side-by-side. Links to each jurisdiction below.
Taiwan Executive Yuan approved comprehensive anti-fraud framework including industry self-regulation, AML registration system for VASPs, and a dedicated Virtual Asset Service Act to be implemented in four gradual phases.
HKMA has slowed the HKD-pegged stablecoin license rollout, with first batch approvals now expected in April 2026 instead of Q1. The regulator received 77 expressions of interest but emphasized only a handful will be granted initially.
Australia has passed its first comprehensive digital-asset law, requiring crypto exchanges and custody providers to obtain Australian Financial Services Licenses (AFSL). Key provisions: 1) Stablecoins, wrapped tokens, and tokenised securities classified as financial products, 2) ASIC introduced no-action position until June 30, 2026 for firms making genuine compliance efforts, 3) AUD$24 billion market opportunity comes into focus. The law addresses a gap exposed when 524 retail investors gained access to high-risk crypto derivatives without proper protections between July 2022-April 2023.
The US CLARITY Act approaches critical Senate Banking Committee markup (April 13-20), with failure potentially delaying crypto legislation until 2027. The bill would give CFTC exclusive authority over digital commodities and create mature blockchain graduation pathway. APAC exchanges like HashKey, OSL, and regional platforms serving US customers must prepare for potential compliance requirements under the new framework. Circle dropped 20% on stablecoin yield restrictions in the bill.
SEC and CFTC release landmark joint guidance classifying crypto assets into five categories based on characteristics and functions. The Release addresses investment contract treatment for mining, staking, wrapping, and airdrops. APAC exchanges serving US customers must reassess token listings against new framework, while Hong Kong's similar classification approach in VASP regime positions it well for cross-border compliance alignment.
Coinbase Australia director and APAC MD John O'Loghlen welcomed the Senate committee report on the Digital Assets Framework Bill but highlighted the persistent issue of debanking, which was referenced extensively throughout the Bill. The proposed legislation would integrate cryptocurrency platforms and custody providers into Australia's financial services framework, requiring AFSL within 6 months if passed.
HKMA confirms HSBC and Standard Chartered will receive Hong Kongs first stablecoin issuer licenses by March 24, 2026. The milestone marks implementation of the Stablecoins Ordinance (effective August 2025). Only 3-4 licenses will be issued in the first batch from 36 formal applications. The development positions Hong Kong ahead of Singapore and rivals US progress on stablecoin regulation.
Singapore's Monetary Authority (MAS) has halted new crypto licenses, enforcing strict rules on capital, compliance, and consumer protection. Only a handful of firms remain licensed after the June 2025 deadline. The strict approach contrasts with Hong Kong's more active licensing regime.
Australian-based cryptocurrency exchange Independent Reserve announces plans to launch new regulated crypto services for corporates and institutions across Singapore, Australia, and UAE from 2026. The expansion signals growing institutional demand for regulated APAC crypto infrastructure.
The Senate Economics Legislation Committee has backed proposed legislation to integrate cryptocurrency platforms and custody providers into Australia financial services framework. The Corporations Amendment (Digital Assets Framework) Bill 2025 would require firms holding digital assets on behalf of customers to obtain AFSL within 6 months if passed.