On February 20th, during the Consensus Hong Kong 2025 conference, Brian Li, the CEO of the Hong Kong Securities and Futures Commission (SFC), unveiled plans for the introduction of cryptocurrency derivatives and margin lending services aimed at professional investors. This strategic move is part of Hong Kong’s initiative to solidify its status as a leading digital asset hub. Coinciding with this announcement, Financial Secretary Paul Chan disclosed that nine digital asset trading platforms have already been granted licenses, with an additional eight currently under evaluation. Moreover, Hong Kong is expediting the framework for stablecoin regulation, reflecting a proactive approach to digital asset governance.
Following these developments, Bitcoin’s (BTC) price experienced a modest uptick, reaching $97,142.8, marking an increase of approximately 0.56%, with a peak of $97,339.8 observed during the session. Analysts from Bitunix affirmed that monitoring key support levels of $91,520.6 and $93,793.8 will be critical for investors, underscoring the importance of employing effective risk management strategies in the current market climate.