Hong Kong's Efforts to Establish International Digital Asset Hub

According to Foresight News, Hong Kong Legislative Council member Ng Kit Chuang has announced that the city is actively working towards becoming an international digital asset center. He emphasized the importance of balancing innovation with compliance for businesses and expressed confidence that the integration of capital markets with the digital asset industry will bring new momentum to the market. Ng highlighted the potential of DePIN, which combines blockchain with the physical economy, to transform traditional industries such as IoT, energy, and transportation. He noted that Web3 applications are a significant direction for development, with numerous overseas exhibitors at Cyberport developing projects and technologies that integrate Web3 with real-world applications. This is expected to open up new opportunities in the market.