HKMA Announces Major Policy: Starting January 1, 2026, banks holding digital assets such as Bitcoin, Ethereum, RWA assets, and stablecoins must allocate risk reserves according to the new capital management framework. What does this move mean?

In simple terms, this is the official "entry confirmation" of traditional financial systems into crypto assets. It’s not suppression but recognition of these assets’ existence and their inclusion into a unified risk management system. Banks need to assess the risk level of these assets and reserve capital accordingly. In the short term, banks will be more cautious when allocating such assets; but in the long run, once the compliance channels are open, will long-waited traditional large funds flood in through this window?

Interestingly, this step could be particularly critical for "bridge assets" like RWA and stablecoins. They themselves aim to connect traditional finance and the Web3 ecosystem. Now with formal regulatory frameworks in place, banks can participate more confidently.

The market has been seeking certainty. This policy is both a morale booster and a constraint. As an international financial hub, Hong Kong’s move will continue to influence the normalization process of the global crypto ecosystem and is worth watching.

What’s your view? Is this the real gateway for mainstream finance to open to the crypto world, or are new restrictions beginning?