Hong Kong Exchanges and Clearing Limited (HKEX) is set to debut the HKEX Virtual Asset Index Series on November 15, marking the city’s first EU-compliant benchmark for cryptocurrencies. The series will feature real-time reference prices for Bitcoin and Ethereum, with updates reflecting 24-hour volume-weighted spot prices aggregated from top exchanges.
HKEX’s goal is to enhance transparency in crypto pricing, contributing to Hong Kong’s ambition to strengthen its position as a global financial hub.
The HKEX Virtual Asset Index Series is designed to provide reliable benchmarks for Bitcoin and Ethereum pricing in the Asian time zone. The indices will include a 24-hour volume-weighted reference spot price and a daily reference rate calculated at 4:00 p.m. Hong Kong time. These benchmarks aim to address price discrepancies across global exchanges, offering investors a single reference price for these virtual assets.
The indices will be administered by CCData, a UK-registered benchmark administrator, ensuring robust governance and compliance with the EU Benchmarks Regulation (BMR). This initiative aligns with Hong Kong’s broader strategy to establish itself as a leading digital assets hub in Asia.
Hong Kong’s Crypto Landscape
Hong Kong has been proactive in creating a regulatory framework for virtual assets. The Securities and Futures Commission (SFC) has implemented licensing regimes for virtual asset service providers, emphasizing anti-money laundering (AML) and know-your-customer (KYC) compliance. These measures aim to enhance investor protection and align with international standards.
The city’s strategic location and regulatory clarity have attracted global crypto businesses. Hong Kong’s tax advantages, such as the absence of capital gains tax and competitive corporate tax rates, further bolster its appeal as a crypto-friendly jurisdiction.
In recent years, Hong Kong has also focused on integrating blockchain technology into traditional finance. Initiatives like the ASPIRe framework by the SFC aim to streamline access to global liquidity and enhance the security of virtual asset markets
Shogun Lin
