Hong Kong Will Implement A New Licensing Systems for Virtual Asset Service Providers in June

April 11 (ChainDD) On the afternoon of 11 April, the Chief Executive of the Hong Kong Special Administrative Region, Mr Lee Ka Chiu John, attended the inauguration ceremony of the Hong Kong Web3.0 Association and delivered a speech.

He hopes that the Hong Kong Web3.0 Association could work with the government to speed up the development of Hong Kong's innovation and financial sector, improve the quantity and quality of attracting talents and enterprises, and enable more top enterprises to come here.

He said, "Web3.0 plays a key role in fintech development. The virtual assets policy declaration released at the end of last year shows that the government has an open attitude and firm determination. "

Mr Lee noted that a new licensing system for virtual asset service providers in Hong Kong will be implemented in June, which will provide a certain degree of market recognition for virtual asset exchanges, ensure the steady and orderly development of the market and protect the interests of investors.