[Weekend Key News Review] US Congressman French Hill: If stablecoin legislation is combined with the Cannabis Banking Act, they will vote for the bill; KPMG: Self-custodian investors can hold virtual assets through Hong Kong ETFs without prior conversion to fiat currency; Hong Kong Exchange: Accepts Bosch HashKey, Huaxia, Harvest Bitcoin and Ether ETFs as securities eligible for multiple counters in the central settlement system

Comparative review of the weekend's key news:

[U.S. Representative French Hill: If stablecoin legislation is combined with the Cannabis Banking Act, I will vote for the bill]

Comparing news, according to Bloomberg, US crypto-friendly Congressman French Hill said that if stablecoin legislation is combined with the Cannabis Banking Act, he will vote for the bill.

Hill said, “I've been supporting the SAFE Banking Act in Congress for nine years, which would allow marijuana dealers to gain access to the banking system in states where marijuana is legal. I think if these companies participate in the banking system, it will be easier to catch bad people and illegal activities.”

He also mentioned that work on the bipartisan payment stablecoin bill is nearing completion.

【KPMG[: Self-managed institutional investors can hold virtual assets through Hong Kong ETFs without prior conversion to fiat]

Comparative news, according to Economic News Agency, Jansburg, KPMG's Hong Kong Risk Advisory Director, said that compared with other regions, virtual asset spot ETFs issued in Hong Kong, China have many advantages, including guarantees provided by the Securities Regulatory Commission for investors and more diversified redemption methods.

For investors, physical redemption and subscription options are particularly attractive. Institutional investors that self-manage virtual assets can consider holding the relevant assets through ETFs without prior conversion to fiat currency. He believes that Hong Kong is now ready for spot Bitcoin and Ethereum ETFs. Hong Kong's requirements for issuing such ETFs are very strict, including a detailed review of the applicant issuer's internal management and business capacity to ensure that it complies with relevant regulations and provides sufficient protection for investors. Under the active impetus of the government, Hong Kong's regulatory environment has been continuously improved to provide a more stable investment environment for global virtual asset investors. The continued development of the virtual asset industry will help Hong Kong attract a new round of investors and institutions seeking new investment opportunities.

[Hong Kong Stock Exchange: When it comes to hostinghashKey, Huaxia, Harvest Bitcoin, and Ethereum ETFs are eligible securities for multiple counters in the Central Clearing System]

Comparatively, the Hong Kong Stock Exchange issued three notices announcing the acceptance of Bosch HashKey Bitcoin ETF shares and Bosch HashKey Ether ETF shares, Huaxia Bitcoin ETF shares and Huaxia Ether ETF shares, Harvest Bitcoin Spot ETF shares, and Harvest Ether Spot ETF shares as securities eligible for multiple counters in the Central Clearing System.

[Taiwan Prosecution Proposes Sentencing 4 Main Suspects in ACE Exchange Fraud Case to 20 Years in Prison]

Comparative news, according toCointelegraphAccording to reports, Taiwan's Taipei District Public Prosecutor's Office is concerned about suspected participation in a cryptocurrency trading platformACE ExchangeThe 32 people in the fraud case filed charges, including fraud and money laundering. The prosecution recommended that the four main suspects be sentenced to at least 20 years in prison.

According to reports, the suspects indicted include ACE Exchange founder Pan Yizhang, his business partner Lin Genghong, and famous lawyer Wang Chenhuan, who is the chairman of the exchange. The prosecution estimated that more than 1,200 people were defrauded in this fraud case, with a total loss of approximately NT$800 million (US$24.56 million).

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