The Hong Kong Securities and Futures Commission's official website for virtual asset trading platform license application information shows that NewBX Limited, the company behind the virtual asset trading platform "Bixin.com", submitted a virtual asset trading platform license application on January 24th, but has not yet disclosed its Chinese name. As of now, the number of companies that have submitted applications for virtual asset trading licenses in Hong Kong has reached 13.

The People's Bank of China and the Hong Kong Monetary Authority decided to launch six policy measures, including deepening the cross-border pilot of digital RMB, to bring more convenience to residents and enterprises in Hong Kong and the mainland. According to reporters, based on previous testing and verification, the Digital Currency Research Institute and the Hong Kong Monetary Authority will further deepen their cooperation in the cross-border pilot of digital RMB. More institutions will be supported to participate in the pilot, providing users with more convenient application conditions. Based on the institutions that participated in the previous verification, more participating operating institutions and local banks in Hong Kong will be introduced in the near future. Currently, relevant institutions have basically completed their preparations and will provide services to the public in batches. The scope of service subjects and scenarios will be expanded. It will further facilitate Hong Kong residents to open and use digital RMB wallets; enrich the functions of digital RMB wallets that Hong Kong residents can use; explore personal small cross-border remittance services based on digital RMB to improve remittance service efficiency.

Hong Kong Securities and Futures Commission released its "Strategic Focus for 2024 to 2026". In the area of virtual assets, the Hong Kong Securities and Futures Commission will provide regulatory guidance on new virtual asset activities and promote the development of regulatory systems for virtual asset trading platforms. While supporting the tokenization of traditional products, it will also utilize blockchain and Web3 technologies to safeguard the interests of investors, promote the establishment of a responsible and secure fintech ecosystem, and establish closer ties with local and international law enforcement agencies to combat crime.

According to reports from Finance News, Invesco Hong Kong has signed a memorandum of understanding with Huobi Financial to provide innovative investment strategies that combine virtual assets and traditional investment tools for retail and institutional investors. At the same time, these two Hong Kong enterprises will jointly explore the launch of a Bitcoin spot ETF in the Hong Kong market.

Wu Jiezhuang, a member of the National Committee of the Chinese People's Political Consultative Conference and a member of the Legislative Council of the Hong Kong Special Administrative Region, expressed his hope for the budget proposal's principles of zero taxation, less fees, increased vitality, and opposition to different tax proposals suggested by the public, including the collection of value-added tax on assets, departure tax, and virtual asset stamp duty, during a meeting with Hong Kong Special Administrative Region Financial Secretary Chen Maobo and Deputy Secretary Huang Weilun this morning. He believes that it is necessary to enhance the development momentum of various industries, break down barriers, and vigorously develop the Web3 industry.

US Bitcoin spot ETF was approved nearly a week ago. Yahoo Finance data compiled by TheBlock shows that on January 17th, the cumulative trading volume of 11 spot Bitcoin ETFs exceeded $11.1 billion on the fourth trading day. Meanwhile, Hong Kong, which is determined to become the center of global virtual assets and Web3 and has repeatedly released positive signals for Bitcoin spot ETFs, has also added some expectations to the market. Some institutions told reporters that more than ten fund companies are actively preparing to launch spot ETFs in Hong Kong, of which seven or eight have entered the actual promotion stage and will work with partners to strive to promote the landing of Hong Kong spot ETFs as soon as possible in the coming months. <br>

Samsung Asset Management has stated that it will not rule out the possibility of exploring the launch of spot ETFs. Southern Dongying Asset Management has not responded to requests for comment. Serra Wei, CEO of digital asset custody company Aegis Custody, said the company is in talks with four asset management companies about listing spot encrypted products in Hong Kong. Compared with the low management fees of many new US spot Bitcoin ETFs, Hong Kong's regulatory requirements may result in higher fees for issuers. The Hong Kong Securities and Futures Commission stated that it will not make any comments other than the guidelines issued in December. If the history of traditional ETFs is any indication, the approval process for such products may take weeks to months.

Hong Kong Stock Analysts Association has proposed nine suggestions for the Hong Kong "2024-2025 Budget", including: consolidating Hong Kong's position as an international financial center; developing family offices and a "new capital investor immigration plan"; adjusting the composition of foreign exchange fund investments to support the stock market; assisting China in developing a long-term bond market; broadening the tax base based on the principle of "user pays"; building Hong Kong into an international virtual asset management center; accelerating the development of spot Bitcoin ETFs; speeding up the launch of stablecoins; and proactively developing the "silver economy".

After BC Technology announced its restructuring, Hong Kong media revealed that the company's original major shareholder, East Harvest, had diluted its holdings to 29.94% after the allotment was completed. BC Technology stated that East Harvest will undergo a share restructuring. Originally jointly owned by Gao Zhenshun, Lo Ken Bon, Madden Hugh Douglas, Chapman David James, and Cheng Wan Gi, after the restructuring, East Harvest will transfer some of its BC Technology shares held in hand to the respective beneficial owners. After the restructuring, Gao Zhenshun will hold East Harvest wholly and hold approximately 10.67% of BC Technology shares. Analysis believes that this move is to facilitate the three resigned executive directors to sell their stocks and exit in the future.

As 13 Bitcoin spot ETFs are waiting for approval from the U.S. Securities and Exchange Commission (SEC), Livio Weng, Chief Operating Officer of HashKey Group, revealed in an interview that about ten fund companies are currently preparing to launch virtual asset spot ETFs in Hong Kong, and seven or eight of them are already in the actual promotion stage.