‘Right time’ for Hong Kong’s Web3 push despite market flux — Financial Secretary

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Hong Kong’s Financial Secretary still says the timing is right for crypto and Web3 in the region despite the setbacks that have hit the industry.

According to Chan the industry is simply going through the same process as the Internet in the early 2000s, and after the"bursting of the bubble", market participants became much calmer.

"After the tide of speculation ebbs, the remaining powerful players will focus more on competing in technological innovation, practical application and value creation, and contribute to improving the quality of the real economy," Chan wrote. "In the next stage, market participants need to develop blockchain technology more deeply, so that its characteristics and advantages of transparency, efficiency, security, disintermediation, de-platformization, and low cost can find wider application scenarios and solve more existing problems."

Hong Kong's approach to crypto regulation greatly contrasts that of the United States, which has adopted a more hardline response that's

 

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Hong Kong's commitment to Web3 growth is attracting lots of crypto companies to that region, including LeverFi as we continue to build more innovative decentralized financial services:

OAX_Foundation $oax yerinde sayıyor ne faydası var sanki

Oax Hong Kong

OAX_Foundation OAX 🚀🚀

We love the optimism!!

❤️

Will the center of Crypto industry coming back to Asia again?

inversebrah

Hongkong something something market flux? how about hongkong market buying conflux :o

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