Hong Kong’s 2026–27 Budget proposes mandatory licensing for crypto dealers and custodians and updates to tax rules for digital-asset activities. The measures aim to strengthen oversight and clarify obligations for individuals and institutions.
Russia’s monetary authority said on Feb. 20, 2026 that cryptocurrency exchanges must establish a Russian subsidiary and comply with local law to operate, a step that will force many foreign platforms to restructure or exit the market.
President Karol Nawrocki vetoed a second MiCA-aligned crypto bill, leaving Poland without a domestic licensing framework as the regulator warns of a July 2026 compliance deadline. The move raises the prospect that firms will relocate to member states with clearer transposition of EU rules.
Hong Kong has introduced stablecoin regulations and launched a licensing regime, with plans to grant the first stablecoin licenses by early 2026. The move is intended to encourage broader crypto adoption while bringing issuers under formal oversight.
South Korea has tightened licensing rules for crypto exchanges, giving regulators broader discretion to scrutinize major shareholders, financial stability risks, and internal controls. The move narrows market access and raises compliance expectations for platforms and investors.
Vietnam has opened a licensing window for digital asset exchanges as a practical step in its crypto pilot, though regulators say they have not yet confirmed any received or approved applications. The move signals a shift toward formal oversight that could attract both local and foreign platforms.
Vietnam's Ministry of Finance has begun accepting applications for a five-year pilot licensing regime for crypto asset exchanges, the country's first formal regulatory step. The program aims to bring oversight, consumer protection and clearer rules to a market that long operated without legal clarity.
Ripple says it has secured a major licensing approval in the European Union, a fresh regulatory win that could ease market access for XRP and Ripple’s payments services.
The UK Financial Conduct Authority will open applications in September 2026 for a new crypto licensing regime that takes effect in October 2027. Firms that don't secure authorization in time risk transitional limits on offering new services.
Indonesia’s OJK has granted official licenses to 29 digital asset and crypto trading platforms weeks after tightening rules, marking a key step in formalizing the sector. The move appears to clear a path for larger exchanges to consider entry or expansion.