Quant

Cryptocurrency

Equal

USDC

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 <p class="is-style-lead">The latest virtual asset index has been unveiled by the Hong Kong Virtual Assets Consortium (HKVAC), a rating agency specializing in evaluating the reliability of cryptocurrency assets and exchanges.</p>
 <p>Quarterly adjustments to its <a rel="noopener noreferrer nofollow" title="global" href="https://thebittimes.com/tag/global.html">global</a> large <a rel="noopener noreferrer nofollow" title="cryptocurrency" href="https://thebittimes.com/tag/cryptocurrency.html">cryptocurrency</a> <a rel="noopener noreferrer nofollow" title="index" href="https://thebittimes.com/tag/index.html">index</a> include the addition of Hedera, Maker, and Quant and removal of Cryptonex, ICP, and HEX.</p>
 <h2 class="wp-block-heading" id="a-new-top-five">A new top five</h2>
 <p>The main goal of HKVAC is to provide investors and regulators with a trustworthy benchmark for assessing the performance and risks associated with virtual assets.</p>
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    <p lang="en" dir="ltr">(Hong Kong, 13 Oct 2023) – HKVAC today announced the rebalancing results of the HKVAC Key Indexes and HKVAC Market Indexes.<br><br>The rebalancing results for those <a rel="noopener noreferrer nofollow" title="index" href="https://thebittimes.com/tag/index.html">index</a>es will be available at https://t.co/aBBFho5wnL. All changes will come into effect on 20 October 2023 (Friday).</p>— HKVAC (@hongkongvac) October 13, 2023
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 <p>Therefore, the revised index, which now features the top five cryptocurrencies as BTC, ETH, USDT, BNB, and XRP, with XRP replacing the original USDC in this prominent cryptocurrency benchmark, signifies the prominence of certain currencies in the crypto ecosystem.&nbsp;</p>
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 <p>At the same time, the HKVAC Global Large Cryptocurrency Top 10 Index and Top 10 Equal Weight Index remain unchanged.</p>
 <p>The press release goes on to state that&nbsp;rebalancing outcomes, with all modifications will take effect on Oct. 20. Comprehensive details will be released on the official HKVAC website at 4:30 PM on the same date.</p>
 <h2 class="wp-block-heading" id="stablecoins-deemed-not-allowed">Stablecoins deemed not allowed</h2>
 <p>The news comes just one week after authorities reiterated that&nbsp;retail investors&nbsp;will not be allowed to trade stablecoins until they are subject to regulation, expected to be implemented in 2024, although different rules are said to apply for other <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currencies.</p>
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 <p>This development comes in the wake of increased scrutiny surrounding the virtual asset trading platform JPEX, which is suspected of being involved in a fraud conspiracy.</p>
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  <svg class="cn-block-related-link__icon icon" aria-hidden="true"><use xlink:href="#"></use>
  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> Hong Kong official states retail stablecoins trading not yet allowed
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/hkvac-s-global-cryptocurrency-index-welcomes-hedera-maker-and-quant-tbt66290.html">https://thebittimes.com/hkvac-s-global-cryptocurrency-index-welcomes-hedera-maker-and-quant-tbt66290.html</a></p>

HKVAC’s global cryptocurrency index welcomes Hedera, Maker, and Quant

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