Hong Kong Monetary Authority Proposes New Crypto Asset Classification Guidelines

According to BlockBeats, the Hong Kong Monetary Authority has issued a draft for the new module CRP-1 'Crypto Asset Classification' in the Banking Supervision Policy Manual to local banks. This draft seeks feedback on the upcoming Basel Committee on Banking Supervision's crypto asset regulatory standards, which will be implemented in early 2026. The new regulations categorize crypto assets into two main groups, each further divided into two subgroups (Group 1a, Group 1b, Group 2a, Group 2b). Under the revised Hong Kong Banking (Capital) Rules, Group 1a consists of tokenized traditional assets, while Group 1b includes stablecoins with effective stabilization mechanisms. Group 2 assets encompass all crypto assets without reserve backing, such as Bitcoin and Ethereum, as well as any tokenized traditional assets and stablecoins that do not meet classification criteria. These are further divided into Group 2a (limited hedging recognition) and Group 2b (unrecognized hedging) based on a set of hedging recognition criteria.