More than 220 Web3 companies based in Hong Kong to accelerate virtual asset development

Aiming to balance its development and regulatory framework, Hong Kong hosts more than 220 Web3 companies from 20 countries and regions, focusing on areas such as virtual asset exchanges, blockchain infrastructure, network security, and payment services. I accept it.

In his recent speech at the opening ceremony of the 2024 Hong Kong Web3 Carnival, Deputy Director-General of the Financial Services and Treasury Department Edmund Huang highlighted the government’s efforts to amend relevant laws to promote over-the-counter (OTC) did. Trading virtual assets under formal regulatory supervision. The government also plans to allow intermediaries to offer a range of virtual asset services, including futures and exchange-traded fund (ETF) trading. Huang emphasized that Hong Kong will continue to cooperate with industry stakeholders to provide deeper insights and drive the development of the Web3 industry.

Renowned investor Cathie Wood, founder of ARK Invest, praised Hong Kong’s rapid progress in blockchain technology development, saying the potential of blockchain goes beyond the price of the virtual asset itself. Wood also expressed optimism about the application of artificial intelligence (AI) and blockchain in the gaming industry. He cites the recent approval by the U.S. Securities and Exchange Commission of a mainstream institution to issue a Spot Bitcoin ETF, which says the price of Bitcoin could reach $1.5 million by 2030. repeated the prediction. Wood noted that the development of blockchain technology in Hong Kong has outpaced that of the United States, and praised Hong Kong’s regulatory progress in the cryptocurrency field.

Wanxiang Group Chairman Lu Weiding emphasized that Hong Kong is emerging as one of the international centers for virtual assets. He praised the city’s progress in the virtual asset industry over the past two years.

Web3 The Hong Kong government’s efforts to attract companies and promote virtual asset development are consistent with the government’s efforts to establish a comprehensive and clear regulatory framework. As her Web3 company’s presence in Hong Kong grows, Hong Kong is establishing itself as a major player in the global blockchain and virtual asset space.

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