The Hong Kong Virtual Assets Consortium acknowledged Shiba Inu token

The Hong Kong Virtual Assets Consortium (HKVAC) has put out its newest index of digital assets. This index contains 30 crypto assets of various sizes, like Shiba Inu (SHIB) and XRP, and is based on the market capitalization. It is designed to help evaluate the reliability of crypto assets and exchanges.

Today, Colin Wu, a widely known Chinese crypto and blockchain journalist, brought this development to the public's attention via a tweet.

The Hong Kong Virtual Assets Consortium acknowledged Shiba Inu token

HKVAC aims to provide investors and watchdogs with an authoritative source of information about virtual assets and their potential risks. Surprisingly, the new index does not include Solana (SOL), causing speculation among investors.

The agency's website provides information on two kinds of the index. The first one is based on the market capitalization of the cryptocurrencies, and the second takes into account their risk ratings when assigning weights.

HKVAC utilizes a combined strategy to calculate the risk score, employing both data-driven and specialist-driven techniques. A variety of data elements contribute to the entire risk evaluation, such as safety, liquidity, conformity, and governance.

The decision to include Shiba Inu in the index highlights the increasing importance of SHIB in the crypto world. Additionally, the decision of HKVAC to include XRP in their index demonstrates the diverse opinions of global organizations concerning the security of this digital asset.

XRP is currently embroiled in a lawsuit with the SEC, who considers it an unregistered security. However, numerous international organizations have different viewpoints in this regard.

Although HKVAC is well-respected, it is important to note that its index is not officially linked to the Securities and Futures Commission (SFC). It works alone, so its information may not be enough for investors who need to abide by the SFC's regulations.

HKVAC began in May 2023, with the support of renowned Hong Kong legislator Johnny Ng, Huobi, KuCoin, and other influential figures in the sector. Its main purpose is to pursue a clear objective.

The purpose of this organization is to create a clearer picture of the digital asset trading landscape and to offer educational materials about crypto investments to the general public. Through this, they strive to promote trustworthiness and responsibility in the crypto world.

HKVAC is devoted to helping Hong Kong gain recognition as an international leader in Web3 technology by promoting the usage of Web3 infrastructure.

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