Chen Haolian: The Hong Kong Monetary Authority confirms it holds cryptocurrency assets, but the proportion is small and not an investment target

ChainCatcher news, according to the Hong Kong government's press release, Hong Kong's Acting Secretary for Financial Services and the Treasury, Chan Ho-lam, confirmed for the first time at a Legislative Council meeting that the Hong Kong Monetary Authority holds a small amount of cryptocurrency assets through external investment managers. He emphasized that while cryptocurrency assets are not the investment target of the foreign exchange fund, there are indeed "individual investments involving cryptocurrency assets" in the diversified portfolios of external investment managers, but they account for a "very small" proportion.

At the same time, Chan Ho-lam revealed that the Hong Kong Securities and Futures Commission will launch a consultation group for virtual asset trading platforms in early 2024. In addition, the Hong Kong government will submit a draft regulation on the supervision of stablecoin issuers to the Legislative Council within this month and plans to conduct a second round of public consultation on virtual asset over-the-counter trading services in 2024, while proposing a licensing system for virtual asset custodians.