Crypto Daily – A Hong Kong lawmaker has proposed incorporating (BTC) into the region’s national reserves, aiming to enhance financial security and position Hong Kong as a global crypto hub.
Proposal for Bitcoin as a Reserve Asset
Wu Jiexhuang, a member of Hong Kong’s Legislative Council, has called for the inclusion of Bitcoin in the city’s fiscal reserves. Speaking to the state-owned newspaper Wen Wei Po, Jiexhuang highlighted the potential benefits of leveraging China’s “one country, two systems” framework to adopt Bitcoin as a strategic reserve asset. He argued that doing so could promote financial security, boost local crypto industry development, and attract talent and investment.
Jiexhuang suggested that Hong Kong could study the market impact of U.S.-based spot Bitcoin exchange-traded funds (ETFs) as part of its exploration of Bitcoin’s viability as a reserve asset. He added that such a move could also increase transaction stamp tax revenue.
