Wu Jiezhuang: Lawyers are in close contact with the victims of the JPEX case and will file a civil lawsuit in the near future

It has been a year and a half since the Hong Kong SAR government issued the virtual asset policy in October 2022. Wu Jiezhuang, a member of the Hong Kong Legislative Council, agreed that it has brought positive impacts to the economic development of Hong Kong and put forward three suggestions to strengthen support for the industry, including relaxing talent policies and promoting "digital resident" status, etc., to attract overseas talents to contribute to Hong Kong Web3. Wu Jiezhuang suggested strengthening support for the industry in three aspects. First, he pointed out that the relevant industry is very dynamic, and Hong Kong should take the initiative to relax restrictions on the introduction of technology talents, such as issuing talent visas to allow them to come to Hong Kong 2 to 3 times a year, each time for 30 days, to ensure that they can play their strengths in Hong Kong. Second, Wu Jiezhuang advocated accelerating the development of "digital resident" status to facilitate non-Hong Kong residents to engage in corporate and commercial activities in Hong Kong. He also suggested that the SAR government specially plan a digital technology city in the northern metropolitan area or the Loop area, design a complete work and living support, and concentrate global digital technology talents in Hong Kong. Third, Wu Jiezhuang suggested strengthening the Web3 policy support, saying that it is difficult for many virtual asset-related institutions to open accounts in the banking system. The SAR government can refer to overseas cases to promote virtual asset banks in Hong Kong, or explore how to relax the bank's management of virtual assets based on existing virtual banks. As for the virtual asset trading platform JPEX case, Wu Jiezhuang has been assisting many victims. He said that lawyers are in close contact with the victims and believe that it will not take too long to file a civil lawsuit. He pointed out that the JPEX incident occurred about half a year ago, and Web 3 has also developed rapidly in the past six months. The most important thing is that citizens know the importance of patronizing licensed institutions. Wu Jiezhuang suggested that the SAR government further increase resources to do a good job in investor education, so that the public can understand that virtual assets are "dangerous and promising, with big ups and downs", and are high-risk investment activities. Before making an investment decision, you need to fully understand the relevant products. (am730)