- Hong Kong Virtual Asset Consortium (HKVAC) has announced its approval of several altcoins, including Bitcoin (BTC) and Ethereum (ETH).
- HKVAC has released a virtual asset index for 27 altcoins, including BTC and ETH.
- The approved altcoins range from Bitcoin Cash (BCH) to EOS (EOS), with notable mentions such as Litecoin (LTC), Cardano (ADA), and Ripple (XRP).
A Hong Kong rating agency, HKVAC, has given the green light to various altcoins, including Bitcoin (BTC) and Ethereum (ETH). The agency has released a virtual asset index for 27 altcoins, which can be found on their official website. The approved altcoins cover a wide range, from Bitcoin Cash (BCH) to EOS (EOS), and include popular cryptocurrencies like Litecoin (LTC), Cardano (ADA), and Ripple (XRP).
Bitcoin and Ethereum-Based Altcoins Among the Approved List
Among the altcoins approved by HKVAC are Wrapped Bitcoin (WBTC), Binance-Peg Bitcoin (BTCB), and Lido Staked Ethereum (stETH). These altcoins, which are based on Bitcoin and Ethereum, have received the agency’s endorsement. The inclusion of these altcoins in the virtual asset index highlights their growing popularity and potential in the cryptocurrency market.
Wide Range of Altcoins Covered
The virtual asset index released by HKVAC includes a diverse selection of altcoins. Apart from the Bitcoin and Ethereum-based altcoins, the approved list also features Bitcoin Cash (BCH), Litecoin (LTC), Binance Coin (BNB), Polygon (MATIC), Cardano (ADA), Cosmos (ATOM), Filecoin (FIL), Near Protocol (NEAR), Algorand (ALGO), Internet Computer (ICP), Ripple (XRP), Dogecoin (DOGE), Polkadot (DOT), Wrapped TRON (WTRX), Shiba Inu (SHIB), TRON (TRX), Chainlink (LINK), UNUS SED LEO (LEO), Monero (XMR), Stellar (XLM), OKB Coin (OKB), Lido DAO (LDO), Hedera (HBAR), VeChain (VET), Quant (QNT), Fantom (FTM), and EOS (EOS). This comprehensive coverage ensures that investors have access to a wide range of altcoins for their investment portfolios.
Support from Cryptocurrency Exchanges
While HKVAC is not directly supported by the Hong Kong government, it has received backing from cryptocurrency exchanges such as Huobi and KuCoin. This support from established exchanges further validates the credibility and potential of the approved altcoins. Investors can have confidence in the altcoins endorsed by HKVAC, knowing that they have the support of reputable players in the cryptocurrency industry.
Furthermore, the virtual asset index includes not only the altcoins themselves but also the native tokens of platforms, privacy tokens, and tokens classified as securities by the U.S. Securities and Exchange Commission (SEC). This broad inclusion demonstrates the agency’s commitment to providing a comprehensive overview of the altcoin market.
Tweet from Binance CEO CZ
Following the announcement, Binance CEO Changpeng Zhao (CZ) shared a tweet expressing his thoughts on the matter. CZ quoted a tweet from Chinese journalist Colin Wu and commented, “Hong Kong is moving forward.” In response, Wu reiterated that the agency is not supported by the Hong Kong government, emphasizing the independence of HKVAC’s decisions.
