Seizing New Opportunities in Web3

Many friends know that I’ve always been a strong supporter of Web3 policies and industry development. This week is a big conference week for the Web3 industry, and yesterday I was invited to the convention center to share my views on Hong Kong’s efforts to promote Web3. It’s great to see regulators announcing new policies with a more open attitude and framework, including opening up perpetual contract functions to professional investors. I believe that the gradual relaxation of policies will allow licensed companies and industry practitioners to fully unleash their potential and contribute to Hong Kong’s economy. Additionally, in the Chief Executive’s recorded speech at yesterday’s conference, it was mentioned that the first batch of stablecoin issuer licenses is expected to be issued starting this March. Stablecoins are an important bridge between Web3 and traditional finance. With the gradual issuance of licenses, I believe this will further enhance society’s recognition and practical application of Web3. I also suggest that the government consider establishing a dedicated agency or department to comprehensively coordinate the development direction of digital and crypto assets. For example, introducing clear guidelines or regulations to enable decentralized autonomous organizations (DAOs) to operate more compliantly in Hong Kong, and attracting more Level 1 blockchain projects to thrive here. With the joint efforts of the SAR government and the industry, Hong Kong’s Web3 policies are improving steadily. I will also continue to do my utmost to help Hong Kong become an international Web3 hub and attract more global talent to develop here! #Web3 #HK