The board of directors of Jiuzi New Energy approved an investment policy of up to $1 billion for the purchase of cryptocurrency assets

ChainCatcher news, according to a report by PR Newswire, Chinese automotive dealer Jiuzhi New Energy (NASDAQ: JZXN) announced that its board of directors has officially approved and adopted a cryptocurrency asset investment policy. This policy authorizes the company to allocate a portion of its cash reserves to specific cryptocurrency assets within a prudent risk management framework.

The core framework of the policy includes: 1. Clear investment authorization and limits: The board has authorized the company to deploy up to $1 billion for the purchase of cryptocurrency assets, ensuring control over risk exposure. 2. Strict asset selection criteria: In the initial phase, the investment scope is limited to BTC, ETH, and BNB. Any future plans to expand to other assets must be re-evaluated and approved by the board's risk committee. 3. Highest level of custody standards: The company will not self-custody the acquired cryptocurrency assets. 4. Professional oversight and governance structure: A "Cryptocurrency Asset Risk Committee" will be established to oversee the implementation of various policies and report regularly to the board of directors.