 HKEX launches digital asset index as Hong Kong expands crypto licensing 
2024-10-28

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 BTCUSD and Ether ETHUSD pricing in the Asian time zone. 
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.
New index series
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.
According 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.”

SFC licensing push
Alongside the HKEX index series, the SFC is finalizing full licenses for several crypto exchanges previously provided with provisional permits. 
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.
Hong Kong push for AI adoption in finance
On Oct. 28, Hong Kong’s Financial Services and Treasury Bureau (FSTB) issued new policies geared toward the safe use of artificial intelligence.
The Hong Kong government agency detailed 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.
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.