ChainCatcher news, Hong Kong's DAB Legislative Council member Chan Chung-nee stated that he suggests the government improve the compliance and regulatory framework in the Web3 cryptocurrency sector to protect investors' rights and promote market fairness and transparency. By utilizing technologies such as big data and artificial intelligence for risk monitoring and early warning in the Web3 market, and establishing a Web3 industry committee to formulate industry norms and standards, as well as enhancing training for practitioners. "Regulation must be done well to prevent fraud, but we do not want the industry to be overly regulated; a balance must be achieved."

ChainCatcher news, according to Jinshi reports, the Metaverse Industry Committee of the China Mobile Communications Association has studied the latest notice released by the Ministry of Civil Affairs, "2024 Social Organizations Supporting College Graduates' Employment Work." The Metaverse Industry Committee will actively respond to the Ministry of Civil Affairs' requirements. As a leader in emerging technology industries and China's first national metaverse industry organization, the popularization and promotion of metaverse industry science education is a primary responsibility. The Metaverse Industry Committee of the China Mobile Communications Association has launched the "Thousand-Mile Horse" plan for talent cultivation in the metaverse industry, aiming to recruit and train a group of fresh university graduates to promote the development of the metaverse industry and advance metaverse talent construction. Under the new generation of metaverse technology framework, a group of new startups, a batch of new business scenarios, and a series of industries will be transformed and empowered by new technologies.

Chain Catcher News, on September 4, the Metaverse Industry Committee of the China Mobile Communications Association, the Blockchain Professional Committee of the China Communications Industry Association, and the Metaverse Think Tank Committee of the Zhongguancun Big Data Industry Alliance issued the "Self-Regulatory Requirements for the Healthy Development of Digital Collectibles," once again calling for industry self-discipline and setting regulatory requirements for member units of the organization: adhere to integrity and innovation, play a positive role; strengthen industrial collaboration, empower cultural soft power; resist disorderly speculation, promote standardized development; uphold compliance bottom lines, and stay away from illegal models.The document states that although in April the Metaverse Industry Committee and the Blockchain Professional Committee of the China Communications Industry Association jointly released the "Metaverse Industry Declaration" and the "Metaverse Industry Self-Regulatory Convention," the digital collectibles industry is still in its early development stage. Some enterprises have weak risk awareness, leading to a series of issues such as speculative hype, technology abuse, copyright infringement, fictitious value, irregular transactions, and potential financialization. Moreover, risks such as fraud, pyramid schemes, money laundering, and illegal fundraising remain persistent. (Sina)