Wu Jiezhang: Seeking development opinions from the industry to promote Hong Kong as a global Web3 center

ChainCatcher news, Hong Kong Legislative Council member Wu Jietzhuang stated that to promote the development of Web3 and virtual assets in Hong Kong, the Legislative Council has recently established a subcommittee on Web3 and virtual asset development. It is now seeking opinions from the global industry to propose policy recommendations and topics for future industry development discussions. It is proposed that detailed research will be conducted and summarized, and presented to the government through the Legislative Council platform. The global industry can provide feedback on the following topics to help Hong Kong become a global Web3 hub:

Web3 Policy Aspects:

• How to balance and promote the foundational technologies, legal, and regulatory frameworks of Web3;
• How to collaborate with the country to promote Hong Kong as a Web3 hub connecting internationally;
• The integrated development of artificial intelligence and Web3 technologies and the improvement of the regulatory framework for artificial intelligence;
• Policy and regulatory recommendations for decentralized autonomous organizations (DAOs) to support and regulate the healthy development of DAOs in Hong Kong;
• How to cultivate and attract talent in Web3 technology and financial innovation;

Virtual Asset Aspects:

• Recommendations for measures that benefit the development of the virtual asset industry;
• How to strengthen protections for virtual asset investors and consumers, enhancing market confidence;
• Potential application scenarios and risks of stablecoins in Hong Kong, recommending a regulatory framework that ensures financial stability without stifling innovation;
• Exploring the demand for professional custody services arising from the rise of virtual assets in Hong Kong, and researching corresponding custody methods and regulatory measures.