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Image Source : China Visual
BEIJING, October 17 (TMTPOST) — The Hong Kong SAR Government will launch a policy statement on Hong Kong"s virtual asset development at the Hong Kong Fintech Week 2022 from October 31 to November 4 in a bid to bolster the city’s status as an international virtual asset hub.
The Hong Kong government will take this opportunity to announce its framework for developing virtual assets in Hong Kong and demonstrating to the global industry Hong Kong"s ambition to promote itself as an international virtual asset center, Hong Kong"s Financial Secretary Paul Chan said in a statement last Sunday.
To support the third generation of the Internet (Web 3.0) and the metaverse, etc., this year"s Hong Kong Fintech Week will feature a limited edition Proof of Attendance Protocol (POAP) token to be distributed to participants on a first-come, first-served basis in the form of NFT (Non-Fungible Token).
The annual Hong Kong Fintech Week will be held from October 31 to November 4. According to the official schedule, Mr. Paul Chan and Mr. Eddie Yue, Chief Executive of the Hong Kong Monetary Authority, will deliver speeches on the first day to discuss topics such as government regulation, blockchain and DLT (distributed ledger technology), Web 3.0, metaverse, and NFT.
Mr. Joseph Chan, Deputy Secretary for Financial Services and the Treasury pointed out in August this year that establishing a comprehensive regulatory regime is particularly important to increase market confidence and pave the way for the sustainable development of Hong Kong"s virtual asset industry. The Hong Kong government believes that establishing a licensing system for virtual asset service providers (a license to conduct regulated business), with appropriate regulation, will help ensure the gradual and sound development of the market while protecting the interests of investors.
Hong Kong wants to become an international virtual asset center, which is expected to compete with Singapore, Tokyo, and Seoul in Asia. At the end of September this year, TOKEN2049, Asia"s most significant cryptocurrency conference, was held in Singapore.
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