Hong Kong Moves to Strengthen Position in Web3 and Crypto Amid US Pressure

As the US intensifies pressure on its own crypto and Web3 companies, Asia is striving to reinforce its market share. Some US politicians are uncomfortable with this situation, and objections are now being voiced loudly in the House of Representatives. So, what steps is Hong Kong taking to overtake the US further? Hong Kong and Web3 As part of Hong Kong’s ongoing determination to embrace the “mega trend” of Web3 development, the region has formed a diverse group of industry and government officials to oversee the progression of Web3. According to an announcement made on June 30, the Hong Kong government has created a task force comprised of 15 sector participants and 11 key government officials to monitor the development of Web3, with a specific goal of promoting its ethical growth. The announcement stated: “The Financial Secretary announced in the 2023-24 Budget that a Task Force has been established to […] The post Hong Kong Moves to Strengthen Position in Web3 and Crypto Amid US Pressure appeared first on COINTURK NEWS.