Hong Kong’s Legislative Council Debuts Web3 & Virtual Assets Subcommittee
Release: 2024/06/22 16:04 Reading: 400
- Original author：Coingape News Media
- Original source：https://coingape.com/?p=203756
Legislative Council of Hong Kong Establishes Subcommittee on Web3 and Virtual Assets
In a forward-thinking move, the Legislative Council of Hong Kong has established a dedicated subcommittee on Web3 and virtual assets. This initiative reflects the region's commitment to embracing cutting-edge technologies and fostering an environment conducive to digital transformation.
Objectives and Initiatives
Chaired by Legislative Council member Wu Jiezhuang, the subcommittee aims to:
- Explore regulatory frameworks to support the growth of Web3 and virtual assets
- Drive technological innovation in these fields
- Utilize Web3 and virtual assets to enhance economic growth and global competitiveness
Key Areas of Focus
- Formulating balanced regulatory frameworks for Web3 technologies
- Fostering international collaborations to position Hong Kong as a global Web3 hub
- Integrating artificial intelligence with Web3 advancements
- Establishing robust policy frameworks for decentralized autonomous organizations (DAOs)
Importance
The establishment of this subcommittee demonstrates Hong Kong's strategic commitment to embracing emerging technologies. By leveraging Web3 and virtual assets, the region aims to drive innovation, enhance its economic growth, and position itself as a global leader in the digital economy.
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