Finance secretary for Hong Kong, Chan has been vocal in his support for cryptos.
Hong Kong has been striving to be a Web3 leader for some time now.
The Hong Kong government has formed a task team to advocate for Web3 innovation. Late on Friday, the Government of the Hong Kong Special Administrative Region issued a press release announcing a new policy that would go into force today.
Paul Chan, the finance secretary of Hong Kong, and other government officials and regulators will lead the committee for its duration of two years. There are a number of specialists in relevant fields among the task force’s 15 unofficial members.
Grabbing the Golden Opportunity
As finance secretary for Hong Kong, Chan has been vocal in his support for cryptocurrencies, saying earlier this year that the city should grab the “golden opportunity” presented by Web3. He said that blockchain technology is what makes Web3 possible, and that it has properties such as disintermediation, security, transparency,
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