ChainCatcher News, Hong Kong Legislative Council Member Wu Jiezhuang posted on X platform stating that the gradually loosening policies in Hong Kong will enable licensed companies and industry practitioners to better realize their potential. The SAR Chief Executive has announced that the first stablecoin issuer licenses are expected to be issued starting from March this year. This is believed to further enhance societal acceptance and practical application of Web3. It is recommended that Hong Kong consider establishing a dedicated agency or department to oversee the overall development of digital and crypto assets.
For example, consider introducing clear guidelines or regulations to enable decentralized autonomous organizations (DAOs) to operate more compliantly in Hong Kong, attracting more Level 1 blockchain projects to flourish in the city.
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