Hong Kong has established a task force to direct the expansion of Web3 in the area with a focus on encouraging ethical growth.
The task team, which will be made up of 15 businesspeople and 11 important government figures, will help Hong Kong achieve its goal of being a leader in the Web3 industry, according to the Financial Secretary.
Hong Kong Forms a Task Force
Over 80 enterprises involved in the creation of virtual assets have expressed interest in setting up shops in the region as a result of the Hong Kong government’s policy statement on the topic released in October 2022.
By asking international virtual asset trading platforms to apply for virtual asset service provider licenses in Hong Kong, the Hong Kong government has also marketed the area as a desirable location for cryptocurrency businesses.
- Hong Kong task force promotes ethical Web3 expansion.
- Hong Kong’s task team aims for Web3 industry leadership.
- Virtual asset trading platform operators requested to submit license applications.
This was done by Johnny Ng. Following the Hong Kong Securities and Futures Commission’s (SFC) announcement that it will permit licensed platforms to serve ordinary investors, this has happened.
Operators of virtual asset trading platforms are urged to submit license applications if they are willing to follow the SFC’s suggested rules.
