{"id":1786,"date":"2024-10-29T03:02:51","date_gmt":"2024-10-29T03:02:51","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=1786"},"modified":"2024-10-29T03:02:51","modified_gmt":"2024-10-29T03:02:51","slug":"hong-kong-makes-history-with-asias-1st-eu-regulated-crypto-index-launch","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=1786","title":{"rendered":"Hong Kong Makes History With Asia\u2019s 1st EU-Regulated Crypto Index Launch"},"content":{"rendered":"
\n

A new era will dawn at the Hong Kong Stock Exchange (HKEX) next month as the stock market introduces a pioneering index in Asia<\/a> designed for crypto.\u00a0Market analysts see this as a trailblazing initiative that will open new opportunities in the Asian financial hub as it integrates cryptocurrencies into the stock market.<\/p>\n

HKEX Embraces Crypto<\/strong><\/h2>\n

HKEX today announced a new index series set to start on November 15 specifically for cryptocurrencies<\/a>, saying that it will cover Bitcoin and Ethereum.<\/p>\n

In a statement, the Asian stock market boasts that the so-called HKEX Virtual Asset Index Series will be the pioneering European Union (EU)-compliant crypto index in the region.<\/p>\n

This will once again position Hong Kong as a top-tier financial hub known for its innovative initiatives like making cryptocurrency investments part of the broader stock market.<\/p>\n

HKEX Group Chief Executive Peter Chan said that HKEX<\/a> is delighted to launch the new index series, emphasizing that the index can accommodate the regional demand for this \u201cemerging asset class.\u201d<\/p>\n

Chan explained that the HKEX Virtual Asset Index Series will provide a transparent and reliable real-time benchmark, adding:<\/p>\n

\n\u201cWe hope to help investors make informed investment decisions, thereby supporting the healthy development of the virtual asset ecosystem and consolidating Hong Kong\u2019s position as an international financial center.\u201d\n<\/p><\/blockquote>\n

<\/p>\n

How The New Index Will Work<\/strong><\/h2>\n

According to HKEX, the virtual index series would allow Bitcoin and Ethereum to have real-time reference indices, saying, \u201cThe reference index is based on the 24-hour volume-weighted benchmark spot price of Bitcoin or Ethereum.\u201d<\/p>\n

Under the index, Bitcoin and Ethereum prices<\/a> will be computed based on a 24-hour volume-weighted benchmark based on aggregate market value across major asset exchanges worldwide.<\/p>\n

HKEX also confirmed that the index would reflect current US dollar prices, with real-time tracking and updates.<\/p>\n

The stock exchange noted that the index will have a regular update every day at 4:00 p.m. Hong Kong time and will reflect current prices in USD.<\/p>\n

The reference exchange rate in the new index adjusts the Asia trading benchmarks with other benchmarks across the globe.<\/p>\n

Chan said that the HKEX Virtual Asset Index Series strengthened the position of Hong Kong as a key innovator in the financial sector by incorporating cryptos and providing traders with more sophisticated instruments to measure the market value.<\/p>\n

The EU Benchmark Regulation<\/strong><\/p>\n

HKEX said that the virtual index series would be the first Hong Kong-developed asset index that follows the EU Benchmark Regulation (BMR).<\/p>\n

The EU Benchmark Regulation is a reform implemented by the EU to ensure the integrity of indices being used as benchmarks by its member states.<\/p>\n

The financial regulation is an offshoot of the 2008 financial crisis that put stringent requirements on benchmark administrators.<\/p>\n

Featured image from Pexels, chart from TradingView<\/em><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

A new era will dawn at the Hong Kong Stock Exchange (HKEX) next month as the stock market introduces a pioneering index in Asia designed for crypto.\u00a0Market analysts see this as a trailblazing initiative that will open new opportunities in the Asian financial hub as it integrates cryptocurrencies into the stock market. HKEX Embraces Crypto […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-1786","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/1786","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1786"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/1786\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1786"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1786"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1786"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}