Exploring Bitcoin's Role in Hong Kong's Financial Stability Under Unique Governance System
by aria-crypto.com
January 1, 2025 at 18:29
Exploring Bitcoin's Role in Hong Kong's Financial Stability Under Unique Governance System
A Hong Kong legislator is advocating the integration of Bitcoin into the region's reserves, leveraging the "one country, two systems" governance model for enhanced financial stability. Wu Jiexhuang, serving on the Hong Kong Legislative Council and chairing the Web3 Virtual Asset Development Subcommittee, has proposed this initiative as reported by Wen Wei Po. He believes that if leading economies begin to adopt Bitcoin in their strategic reserves, its value could stabilize, prompting a global shift from traditional assets to digital ones. This could potentially decrease the value of conventional assets and impact governmental fiscal reserves adversely. Meanwhile, Hong Kong Exchanges and Clearing Limited has introduced a "Virtual Asset Index Series” to track Bitcoin and Ethereum prices more accurately across different exchanges. Additionally, Hong Kong authorities are nearing completion of licensing processes for several cryptocurrency exchanges, including major platforms like Crypto.com and Bullish.
Read more
>> South African Authority Highlights Bitcoin's Role in Terror Funding
A recent arrest in Johannesburg by South African law enforcement points to the growing concern over the use of cryptocurrencies like Bitcoin in illegal activities. A 35-year-old man has been apprehended on susp...
2 hours ago
>> Binance Secures Pioneering Broker-Dealer License from Brazil's Central Bank, Expanding Influence in South America
Binance, the world’s leading cryptocurrency exchange by volume, has been granted a broker-dealer license in Brazil, marking a significant regulatory milestone. This approval from the Central Bank of Brazil foll...
>> China's Strategic Moves Fuel Bitcoin's Ascent Toward $100,000
The price of Bitcoin is on the rise, edging closer to the $100,000 mark, largely driven by a wave of institutional interest and geopolitical developments. Bill Miller IV of Miller Value Partners attributes this...
4 hours ago
>> MicroStrategy Expands into Diverse Crypto Holdings: Bitcoin, Dogecoin, and Solana in Focus
MicroStrategy, renowned for its extensive Bitcoin reserves, is pioneering a shift in its strategic direction by embracing a broader range of cryptocurrencies including Dogecoin and Solana. The company, often te...
5 hours ago
>> South Korea's Crypto Market Eyes Revival with Potential Lift of ETF Ban in 2025
On Thursday, Jeong Eun-bo, the chairman of the Korea Exchange, emphasized the intentions to potentially approve crypto-based ETFs by 2025 as part of its "value-up program" amidst market adversities and global d...
9 hours ago
>> Turkey's Crypto Milestone: Garanti BBVA Launches Bitcoin and Crypto Trading Services
Garanti BBVA, Turkey's fifth-largest bank, has unveiled Garanti BBVA Kripto, a new platform enabling legal cryptocurrency trading for its customers. This move comes at a time when cryptocurrency adoption is sur...
9 hours ago
>> Google and Meta Ally with India to Fortify Defenses Against Crypto Scams
India has intensified its crackdown on cryptocurrency scams by collaborating with giants like Google and Meta. The Indian Ministry of Home Affairs reports comprehensive measures to mitigate 'pig butchering' sca...
>> Bitcoin Soars Toward $100K Amid a Dip in Coinbase Premium Index
The Bitcoin price is currently on the brink of reaching $100,000, marking its highest point since late December, as it now trades at $98,000. This surge comes despite the Coinbase Premium Index hitting a two-ye...
20 hours ago
>> India Ramps Up Efforts in Crypto Scam Crackdown with Tech Giants' Aid
India is escalating its fight against cryptocurrency scams, specifically targeting the 'pig butchering' fraud, with the support of major tech companies Google and Facebook. The Indian government's 2024 report h...
>> Bitcoin and BlackRock's ETF Navigate Challenging Waters Amidst Massive Outflows
BlackRock's iShares Bitcoin Trust (IBIT) has documented the largest single-day outflow since its inception, showcasing significant market shifts and investor behavior. On January 2, the fund experienced a massi...
a day ago
All the latest crypto news in one place
Stay informed and up-to-date on the market's latest news with our Terminal's News Aggregator with curated news articles and analysis from over 50 sources, including the crypto's biggest publications.
Launch Terminal
