Wu Jiezhuang: Suggests Hong Kong Establish a Dedicated Agency or Department to Comprehensively Coordinate Digital and Crypto Asset Development

Odaily News Hong Kong Legislative Council member Wu Jiezhuang posted on the X platform, stating that Hong Kong's gradually relaxing policies will allow licensed companies and industry practitioners to better realize their potential. The Chief Executive of the Special Administrative Region has proposed that the first batch of stablecoin issuer licenses is expected to be issued starting from March this year, which is believed to further enhance society's acceptance and practical application of Web3. It is suggested that Hong Kong could 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 flourish in Hong Kong.