Hong Kong Legislative Council Discusses Web3 And Virtual Asset Regulation

According to Odaily, the Hong Kong Legislative Council's Subcommittee on Web3 and Virtual Asset Development held a meeting yesterday to address the regulation and growth of virtual asset trading platforms in the region. Deputy Secretary for Financial Services and the Treasury, Joseph Chan, noted the increasing popularity of ETFs in Hong Kong over recent months and emphasized the government's commitment to maintaining close ties with the industry. In response to inquiries about whether Hong Kong would consider using a meme coin, similar to the one issued by the Trump family, as a testing ground, Chan highlighted the importance of market leadership. He also mentioned that the government has already issued its own non-fungible tokens (NFTs), underscoring Hong Kong's proactive approach in the virtual asset space.