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Hong Kong Exchanges and Clearing (HKEX), a publicly traded global exchange group, announced the launch of a new digital asset index series for accurate real-time data on digital assets in the Asia-Pacific region.
The HKEX Virtual Asset Index Series will go live on Nov. 15, providing investors with benchmarks for Bitcoin (<a data-ct-non-breakable="null" href="https://cointelegraph.com/bitcoin-price" rel="noopener noreferrer nofollow" target="null" text="null" title="null">BTC</a>) and Ether (<a data-ct-non-breakable="null" href="https://cointelegraph.com/ethereum-price" rel="noopener noreferrer nofollow" target="null" text="null" title="null">ETH</a>) pricing in the Asian time zone.&nbsp;
HKEX’s new index series coincides with the Hong Kong Securities and Futures Commission’s (SFC) plans to issue more digital asset exchange licenses by the end of the year.
According to Bloomberg, Eric Yip, the executive director at the SFC, highlighted that firms had been receptive to feedback and the SFC’s push for increasing licensing.
Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/hong-kong-ai-policy-financial-services-crypto-otc" rel="noopener noreferrer nofollow" target="null" text="null" title="null">Hong Kong issues dual-track policy for AI adoption in finance</a>
<h2 id="new-index-series">New index series</h2>
The HKEX Virtual Asset Index Series is designed to provide a single reference price for BTC and ETH through a volume-weighted average gathered from data from multiple top-rated exchanges.
<a data-ct-non-breakable="null" href="https://www.hkex.com.hk/News/News-Release/2024/241028news?sc_lang=en" rel="noopener noreferrer nofollow" target="null" text="null" title="null">According</a> to an official press release, the index is stated as compliant with the European Union Benchmarks Regulation (BMR), making this index series the first of its kind in HK.
Bonnie Y Chan, the CEO of HKEX, stated that the index series aims to “enable investors to make informed investment decisions [to] support the development of the virtual asset ecosystem.”
<blockquote>
 “We are delighted to introduce the HKEX Virtual Asset Index Series to meet the region’s growing demand for this fast-emerging asset class.”
</blockquote>
<figure><img alt="Hong Kong, Assets, Cryptocurrency Exchange, Digital Asset, Policies, Policy" src="https://s3.cointelegraph.com/uploads/2024-10/0192d359-7308-7cb6-812e-124c446975e3" title="">
 <figcaption style="text-align: center;">
 Source: <a data-ct-non-breakable="null" href="https://x.com/HKEXGroup/status/1850752902861910445" rel="noopener noreferrer nofollow" target="_blank" text="null" title="https://x.com/HKEXGroup/status/1850752902861910445">HKEX</a>
 </figcaption>
</figure>
Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/hong-kong-charges-alleged-deepfake-crypto-romance-scammers" rel="noopener noreferrer nofollow" target="null" text="null" title="null">Hong Kong cops clean out alleged $46M deepfake crypto scam</a>
<h2 id="sfc-licensing-push">SFC licensing push</h2>
Alongside the HKEX index series, the SFC is finalizing full licenses for several crypto exchanges previously provided with provisional permits.&nbsp;
After a five-month inspection period, the regulator identified unsatisfactory practices among some firms but acknowledged that most had taken corrective actions.
By early 2025, the SFC plans to form a consultative panel with licensed exchanges to improve cooperation and compliance.
The expansion of the regulatory framework also covers over-the-counter trading desks and custodians, reinforcing the oversight of HK digital asset markets.
Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/hong-kong-more-crypto-exchange-licenses-year-end" rel="noopener noreferrer nofollow" target="null" text="null" title="null">Hong Kong to license more crypto exchanges by end of year</a>
<h2 id="hong-kong-push-for-ai-adoption-in-finance">Hong Kong push for AI adoption in finance</h2>
On Oct. 28, Hong Kong’s Financial Services and Treasury Bureau (FSTB) <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/hong-kong-ai-policy-financial-services-crypto-otc" rel="noopener noreferrer nofollow" target="_self" text="null" title="https://cointelegraph.com/news/hong-kong-ai-policy-financial-services-crypto-otc">issued new policies geared toward the safe use</a> of artificial intelligence.
The Hong Kong government agency <a data-ct-non-breakable="null" href="https://gia.info.gov.hk/general/202410/28/P2024102800154_475819_1_1730083937115.pdf" rel="noopener noreferrer nofollow" target="null" text="null" title="null">detailed</a> its stance on the responsible management of AI in finance in its ‘Policy Statement on Responsible Application of artificial intelligence in the Financial Market.’
In the policy statement, the FSTB stated that AI “could be deployed to various aspects from risk management to customer services,” leading to new services and products.
<blockquote>
 “The public release of generative AI 1 products and services in 2022 has presented ample opportunities to the industry,” the report said.
</blockquote>
In its latest push for AI adoption in finance, the regulator proposed a “dual-track approach” to address the potential hurdles while promoting the innovation of AI development.
Magazine: <a data-ct-non-breakable="null" href="https://cointelegraph.com/magazine/solana-champion-mert-mumtaz-fud-sol-most-helius/" rel="noopener noreferrer nofollow" target="null" text="null" title="null">The rise of Mert Mumtaz: ‘I probably FUD Solana the most out of anybody’</a>

HKEX launches digital asset index as Hong Kong expands crypto licensing

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