[Hong Kong Monetary Authority Plans to Implement New Crypto Asset Capital Rules in 2026] The Hong Kong Monetary Authority (HKMA) announced that it will fully implement the Basel crypto asset capital rules starting January 1, 2026, covering Bitcoin, Ethereum, stablecoins, and RWA assets. Industry insiders believe the new rules may affect the willingness of Hong Kong banks to hold stablecoins and RWA. However, the Basel Committee and the HKMA have clarified that the new rules do not apply to crypto assets held in custody by banks on behalf of clients, provided that client assets are segregated from the bank's own assets.