Hong Kong seeks advice from Japan in reaction to ‘mind-boggling’ Web3 influx
In light of Hong Kong’s commitment to developing cryptocurrency infrastructure, a FinTech official King Leung has visited Japan to talk with policymakers and regulators in Tokyo to better understand the idea around Web3 digital assets.
In an interview with Cointelegraph reporter Jesse Coghlan, King said that understanding the rationale behind JapanIn October, Hong Kong initiated its efforts to establish itself as a leading global center for cryptocurrency byat fostering a crypto-friendly regulatory framework for the industry within its borders.
King also mentioned talking to industry players to get a holistic view. According to King, findings from his visit would be reported back to policymakers and regulators in Hong Kong to be included in the considerations for designing the city’s regulations concerning digital assets. King explained that digital assets, including other assets such as tokenized bonds and tokenized revenue streams from internet protocols , would likely be monetized to create revenue streams. This was in response to the strategic importance of Web3 and crypto in the context of the economic development of Hong Kong and was in line with one of the discussions he had in Japan.According to King, “InvestHK did not expect this enormous, massive level of enthusiasm.
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