The government of Hong Kong has unveiled a task force dedicated to driving the advancement of Web3. According to a June 30 statement, the group comprises a mix of key government officials and industry participants.
Paul Chan, Hong Kong’s financial secretary said that the task force will only further enhance Hong Kong’s aim to be a frontrunner in the Web3 sector.
“Hong Kong seeks to lead and drive innovative exploration and development, create more new application models, and strives to draw together top-notch companies and talent in the arena to build a thriving ecosystem” Chan stated, adding: “With the Task Force bringing together leaders and professionals in the sectors involved, I believe their valuable advice will help Hong Kong develop into a Web3 hub.”
It was highlighted that the market has “responded favorably” to the government issuing its policy statement on theCointelegraph reported on March 20 that over 80 virtual asset-related companiesThis comes amid Hong Kong government’s efforts to push crypto adoption.licensed platforms to cater retail investors.
It was stated operators of virtual asset trading platforms willing to adhere to the SFC’s proposed guidelines are encouraged to submit license applications.
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