XRP, DOGE Added In Crypto Index Launched By Hong Kong Rating Agency

Crypto News: In a major push for the global digital asset industry Hong Kong rating agency HKVAC reportedly announced its virtual asset index. In addition to Bitcoin (BTC) and Ethereum (ETH), the list includes the largest of the 30 cryptos. This comes after HSBC opened doors for Hong Kong crypto users to trade in BTC and ETH futures Exchange Traded Funds (ETFs).

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Hong Kong’s Another Push To Crypto?

Crypto reporter, Colin Wu reported that the listed tokens hold several platforms token and privacy tokens. Meanwhile, the list also includes a large number of crypto that are marked as “Securities” by the U.S. Securities and Exchange Commission (SEC). He added that the Hong Kong community thinks that the reference value is low.

As per reports, HKVAC issued virtual asset index includes WBTC, BTCB, stETH, BCH, LTC, BNB, MATIC, ADA, ATOM, FIL, NEAR, ALGO, ICP, XRP, DOGE, DOT, WTRX, SHIB, TRX, LINK, LEO, XMR, XLM, OKB, LDO, HBAR, VET, QNT, FTM, EOS. However, this index is not launched by the Hong Kong Government but it is supported by Hong Kong legislators Johnny Ng, Huobi, KuCoin and others. Read More Crypto News Here…

Also Read: Why XRP Lawsuit Verdict Is Taking So Long?

The Hong Kong Securities and Futures Commission (SFC) mentioned a rule that retail tradable tokens need to be included in at least two indices. However, the criteria HKVAC crypto index follows are kind of simple. It lists the top 30 tokens by market cap.

Changpeng Zhao, Chief Executive Officer of the world’s biggest crypto exchange, Binance, seems to be excited by this development. He wrote, “HK moving forward”.

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Ashish Kumar

Ashish believes in Decentralisation and has a keen interest in evolving Blockchain technology, Cryptocurrency ecosystem, and NFTs. He aims to create awareness around the growing Crypto industry through his writings and analysis. When he is not writing, he is playing video games, watching some thriller movie, or is out for some outdoor sports. Reach me at [email protected]

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