The Government of the Hong Kong Special Administrative Region named Yat Siu, co-founder and executive chairman of Animoca Brands, to the Task Force on Promoting Web3 Development.
In a visionary move, the Government of Hong Kong unveiled the Policy Statement on Development of Virtual Assets in October 2022, outlining their strategic approach to the sector.
Recognizing the indispensable role of virtual assets in a thriving Web3 ecosystem, the Financial Secretary of Hong Kong revealed the establishment of the Task Force in the 2023-24 Budget. This Task Force aims to provide expert recommendations for the sustainable and responsible growth of Web3 in Hong Kong.
Under the guidance of the Financial Secretary, the Task Force boasts an exceptional lineup of 15 non-official members representing relevant market sectors. Complemented by the active involvement of key Government officials and financial regulators, the Task Force is poised to spearhead the evolution of Web3 in Hong Kong.
Yat Siu, an industry luminary and the driving force behind Animoca Brands, expressed his profound honor at joining the Task Force. He eagerly anticipates making valuable contributions to this forward-thinking initiative.
With the establishment of this Task Force, Hong Kong firmly positions itself as a trailblazer—a mature, highly modernized economy embracing the extraordinary opportunities offered to virtual assets, and also before this, the HK govt has set up a virtual asset trading platform that can also be considered as a cushion for it.
Yat Siu firmly believes that the Task Force’s work will shape not only Hong Kong but also the global adoption of blockchain technologies. Specifically, its focus areas include regulation, ecosystem building, industry development, and talent cultivation.
This appointment marks a pivotal moment in the journey toward a Web3-powered future, with Hong Kong leading the charge, and Animoca Brands and Yat Siu blazing a trail of innovation and progress in the ever-evolving landscape of digital technologies.
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