Hong Kong Legislative Council to Explore Web3 Industry Development

IconCryptoNewsTerminal Staff02 Aug, 2024

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Hong Kong Legislative Council to Explore Web3 Industry Development

The Hong Kong Legislative Council has taken a step towards fostering the growth of the Web3 industry within the region. A policy proposal has been put forward by members of the Council, calling for the establishment of a dedicated Web3 Industry Committee. This Committee would play a crucial role in shaping the future of Web3 in Hong Kong. Its responsibilities would include: - Advising the government on policy and regulatory frameworks for Web3 and digital assets - Promoting collaboration and innovation within the Web3 ecosystem - Enhancing Hong Kong's position as a global hub for Web3 development The establishment of a Web3 Industry Committee would demonstrate Hong Kong's commitment to embracing technological advancements and supporting the growth of emerging industries. It would provide a platform for stakeholders to engage with policymakers and contribute to the development of a comprehensive Web3 strategy for the region.

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