Hong Kong Continues Building Web3 Development Strategy

Hong Kong’s Financial Secretary Paul Chan issued an article in favor of Hong Kong’s Web3 policy of “proper regulation” and “promotion of development.” According to Paul, the world is vying to see who can provide the most room for Web3 innovation under the concept of manageable risks. He also added that, although some exchanges have closed in the past, now is the greatest moment to encourage the growth of Web3. The finance secretary stated Web3 festivals that embody Hong Kong’s vision and Web3’s growth plan had piqued the attention of industry insiders and will include frequent events this week. Web3 infrastructure, trading platforms, virtual assets, wallets and payment instruments, and security-verified networks are all examples. Notwithstanding the recent volatility in the cryptocurrency market. As Coincu reported, Hong Kong regulators are seeking for talks between crypto businesses and bankers to assist sector funding. The gathering intends to enable bank funding for money firms in order to propel Hong Kong closer to being a crypto center.