Web3

Hong Kong should follow Singapore, Japan in crypto: study

Jun 22 (cryptonews.com) - A government study conducted by the Research Office at Hong Kong’s Legislative Council has suggested that the city should take cues from countries like Japan and Singapore in its efforts to develop and embrace Web3 technologies and crypto.

The study emphasized that Hong Kong can draw on the experiences of early movers in the Web3 space as policy guides for its own development, and highlighted concerns that Hong Kong is lagging behind its East Asian and Gulf counterparts in terms of Web3 development.

It specifically pointed to Japan's national strategy for Web3, Singapore's focus on blockchain use cases, and South Korea's metaverse strategy as examples worth considering.

The study called for the provision of more legal clarity to create an environment conducive to Web3 technologies, including addressing issues related to decentralized autonomous organizations (DAOs), intellectual property rights, and non-fungible tokens (NFTs). ...continue reading

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