A Hong Kong legislator has proposed leveraging the “one country, two systems” framework to add Bitcoin to its national reserve for financial stability.
A Hong Kong legislator wants the special administrative region to take advantage of China’s “one country, two systems” policy to include Bitcoin in its national reserve for financial security.
Wu Jiexhuang, a member of Hong Kong’s Legislative Council, told state-owned newspaper Wen Wei Po that Hong Kong could study the market impact of United States-based spot Bitcoin (BTC) exchange-traded funds (ETFs).
Jiexhuang pointed to smaller nations, such as El Salvador and Bhutan, which have integrated Bitcoin into their strategic reserves, as well as certain US states. He added that US President-elect Donald Trump’s proposal to make Bitcoin a strategic reserve asset could have a significant impact on traditional markets.
