Johnny Ng, an elected member of the Hong Kong Legislative Council, recently suggested that the state Exchange Fund could invest in crypto. Joseph Chan, Acting Secretary for Financial Services and the Treasury, did not directly approve the idea but seemed surprisingly open to it.

The council member focused his proposal on the potential monetary gains of crypto investment, and Chan acknowledged that Hong Kong may make minor investments in the future.

A Possible Crypto Thaw in Hong Kong

This news comes from local media reporting and a transcript of Ng’s proposal and response. In recent months, Hong Kong has been growing as a potential crypto hub, approving a Bitcoin ETF earlier this year.

In November, the Hong Kong Exchanges and Clearing (HKEX) also launched a crypto index. Unfortunately, unlike the spot Bitcoin ETFs in the US, the crypto ETFs in HKEX haven’t been a major success.

Council member Johny Ng has constantly attempted to advocate for pro-crypto policies in Hong Kong. In July, for example, he advocated for a Bitcoin Reserve in Hong Kong, explicitly mirroring Trump’s proposal in the US. Today, his proposal centered around cryptocurrency as a high-performing investment option.

“It has been reported that financial enterprises around the world have incr

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Author: Landon Manning