TechFlow reports that on December 11, according to a Hong Kong government press release, Deputy Secretary for Financial Services and the Treasury Chan Hau-lim confirmed for the first time during a Legislative Council meeting that Hong Kong's Exchange Fund holds a small amount of crypto assets through externally appointed investment managers. He emphasized that while crypto assets are not an investment target for the Exchange Fund, there are indeed "individual investments involving crypto assets" within the diversified portfolios managed by external investment managers, though their proportion is "very small."
Meanwhile, Chan Hau-lim revealed that the Securities and Futures Commission (SFC) of Hong Kong will launch a virtual asset trading platform consultation group in early 2024. In addition, the Hong Kong government will submit a draft bill regulating stablecoin issuers to the Legislative Council within this month, plans to conduct a second round of public consultation on over-the-counter virtual asset trading services in 2024, and will propose a licensing regime for virtual asset custodian service providers.
