Deputy Financial Secretary of Hong Kong: We will continue to work with more industry participants to promote the development of Hong Kong's Web3 indu

Huang Weilun, the Deputy Secretary of Financial Services and the Treasury of the Hong Kong Special Administrative Region, said in his speech at the opening ceremony of the Web3 Carnival in Hong Kong that "Web3 is revolutionary, and Hong Kong will develop in a stable, sustainable, and responsible manner. Hong Kong mainly focuses on two areas in the development of Web3: first, supporting Hong Kong's virtual asset trading platforms, and second, supporting Web3 developers. The Hong Kong government is amending a law to include OTC trading of virtual assets under legal supervision, and the proposed law is being formulated. In addition, Hong Kong will allow intermediaries to provide trading of virtual assets, futures, and ETFs that meet certain conditions. In the future, we will continue to cooperate with more industry participants, bring more possibilities to Hong Kong with more insights, and promote the development of the Hong Kong Web3 industry."