Hong Kong proposes to include Bitcoin in financial reserves · CCG contract robot

01 The United States Promotes Strategic Reserve Bitcoin Bitcoin has recently experienced a bull market, with prices surpassing $100,000 at one point. Former US President Trump supported the plan to include Bitcoin in the national strategic reserve, which became an important driving force for the market. Some US states have legislated to require 10% of their state reserve assets to be allocated to Bitcoin. For example, a Texas congressman proposed a bill that would require the state to hold Bitcoin for at least five years and keep it in cold storage; Pennsylvania and Ohio have also proposed similar bills, planning to use state funds to purchase Bitcoin. Wu Jiezhuang said that if Trump pushes to include Bitcoin in the government's strategic reserves, this will have a profound impact on the global market, especially on reserve assets, prompting other countries to follow suit and turn to Bitcoin to deal with currency issuance and inflation problems, which may lead to a decline in the value of traditional assets and affect government fiscal reserves.

02 Hong Kong may consider incorporating cryptocurrency assets Wu Jiezhuang mentioned that in the face of the global cryptocurrency development trend, the Hong Kong government may consider including digital assets in the fiscal reserves and using the foreign exchange fund to continuously purchase and hold Bitcoin. At the same time, evaluate the impact of Bitcoin as a strategic reserve asset on the financial security of Hong Kong and the mainland. Although the volatility of Bitcoin is relatively large and it is currently difficult to confirm the identity of the asset holder, after weighing the risks and returns, the government and enterprises can allocate a small amount of Bitcoin as a fiscal asset.

03 Hong Kong virtual asset infrastructure continues to improve Since the release of the virtual asset development policy declaration by Hong Kong in 2022, related regulations, laws, and technologies have gradually improved. Currently, Hong Kong has issued 7 virtual asset platform licenses and has 12 ETFs linked to Bitcoin and Ether trading on the Hong Kong Stock Exchange. In addition, Hong Kong has also launched a stablecoin sandbox project and successfully issued multiple tokenized bonds. Although compared with Singapore, Hong Kong is slightly slower in issuing cryptocurrency licenses, it has begun to establish a more mature regulatory framework. In December 2024, the People's Bank of China Hong Kong pointed out in the "China Financial Stability Report 2024" that Hong Kong is actively exploring a regulatory system for cryptocurrencies, dividing virtual assets into securities and non-securities categories, and implementing a "dual-license" system. At the same time, major banks such as HSBC and Standard Chartered have included cryptocurrency exchanges in their daily regulatory scope.

Conclusion Hong Kong's policies in the field of cryptocurrency are gradually improving and are expected to take advantage of the 'one country, two systems' to lead the world in innovative attempts. Wu Jiezhuang's proposal indicates that Hong Kong has the potential to become a cryptocurrency reserve and innovation center, but careful consideration of risks and returns is needed to ensure financial security and stability.

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