Wu Jiezhang: It is suggested that Hong Kong establish a dedicated agency or department to comprehensively coordinate the development of digital and cryptocurrency assets

Hong Kong Legislative Council member Wu Jietzhuang posted on the X platform, stating that the gradually relaxed policies in Hong Kong will allow licensed companies and industry practitioners to fully realize their potential. The Chief Executive of the Special Administrative Region has proposed that the first batch of stablecoin issuer licenses will begin to be issued starting in March this year, which is believed to further enhance society's recognition and practical application of Web3. It is suggested that Hong Kong consider establishing a dedicated agency or department to comprehensively coordinate the development direction related to digital and crypto assets.

For example, consider introducing clear guidelines or regulations to allow decentralized autonomous organizations (DAOs) to operate more compliantly in Hong Kong, attracting more Level 1 public chain projects to thrive in Hong Kong.