A cryptocurrency firm based in Hong Kong has initiated a new program to assess cryptocurrencies and exchanges, aiming to improve transparency and regulatory compliance in the market.
This trading group has introduced a fresh approach to evaluate cryptocurrencies and crypto exchanges within Hong Kong, assisting local businesses in adhering to the regulatory framework for digital assets set forth by the Securities and Futures Commission.
In a post on social media on Thursday, March 27, the firm announced its collaboration with the Hong Kong Virtual Asset Rating Company, which will offer three main services: rating of virtual assets, assessment of exchanges, and the creation of virtual asset indices.
The initiative is intended to develop an “industry evaluation ecosystem” that provides “objective quantitative standards” for both exchanges and investors. The overarching aim is to enhance market transparency and establish compliance benchmarks, potentially reinforcing Hong Kong’s standing as a global hub for virtual assets. The ratings are expected to offer risk indicators, aiding investors in making more informed decisions.
Earlier in February, the Securities and Futures Commission in Hong Kong proposed to expand its staff, focusing on the monitoring of virtual asset trading platforms, improving market surveillance, and increasing enforcement measures. As part of its budget plan for the 2025–26 financial year, the commission is seeking to add 15 new positions, with eight dedicated to the regulation of virtual assets.
The firm has recently attracted a $30 million investment from a Beijing-based venture capital firm, valuing the company at $1.5 billion. This funding followed the group’s investment arm receiving approval from the commission to manage cryptocurrency investment products for high-net-worth individuals.