Fun

News Feed - 2023-07-02 10:07:23

Ciaran Lyons7 hours agoHong Kong establishes task force to advance Web3 developmentThe task force will advise on the “sustainable and responsible” development of Web3 in Hong Kong, according to the statement.1767 Total views4 Total sharesListen to article 0:00NewsJoin us on social networksAs part of Hong Kong"s ongoing commitment to embrace the "megatrend" of Web3 development, it has established a diverse group of industry and government officials to supervise the progress of Web3 in the region.


According to a June 30 statement, the government of Hong Kong has formed a task force comprising 15 industry participants and 11 key government officials to oversee the development of Web3, with a particular focus on promoting its growth in an ethical manner. It stated:“The Financial Secretary has announced in the 2023-24 Budget the establishment of the Task Force to provide recommendations on the sustainable and responsible development of Web3 in Hong Kong.”The Govt announces the establishment of the Task Force on Promoting #Web3 Development https://t.co/wrC1DmE2QD— Hong Kong SAR Government News (@newsgovhk) June 30, 2023


Paul Chan, Hong Kong’s financial secretary said that the task force will only further enhance Hong Kong’s aim to be a frontrunner in the Web3 sector.


“Hong Kong seeks to lead and drive innovative exploration and development, create more new application models, and strives to draw together top-notch companies and talent in the arena to build a thriving ecosystem” Chan stated, adding:“With the Task Force bringing together leaders and professionals in the sectors involved, I believe their valuable advice will help Hong Kong develop into a Web3 hub.” 


It was highlighted that the market has “responded favorably” to the Hong Kong government policy statement on the development of virtual assets, which was released in October 2022.


Cointelegraph reported on March 20 that over 80 virtual asset-related companies have expressed interest in “establishing their presence in Hong Kong” since the release of this statement.


Related:HSBC rolls out cryptocurrency services in Hong Kong: Report


The Hong Kong government has been actively promoting the region as an attractive place for crypto firms in recent times.


On June 10, Johnny Ng, a Hong Kong Legislative Council member took to Twitter to extend an invitation to "all global virtual asset trading platforms" to come to Hong Kong and apply for a virtual asset service provider license.


He mentioned crypto exchange Coinbase specifically, amid the United States Securities and Exchange Commission taking legal action against the exchange just days earlier on June 6.I hereby offer an invitation to welcome all global virtual asset trading operators including @coinbase to come to HK for application of official trading platforms and further development plans. Please feel free to approach me and I am happy to provide any assistance. pic.twitter.com/bcIi1IjMlc— Johnny Ng 吴杰庄 (@Johnny_nkc) June 10, 2023


This comes after the Hong Kong Securities and Futures Commission (SFC) announced on May 23 that it would soon allow licensed platforms to cater retail investors.


It was stated thatoperators of virtual asset trading platforms willing to adhere to the SFC’s proposed guidelines are encouraged to submit license applications.


Magazine:How smart people invest in dumb memecoins: 3-point plan for success# Hong Kong# China# Adoption# Web3# RegulationAdd reactionAdd reactionRelated NewsWho invented NFTs?: A brief history of nonfungible tokensWhat is the International Monetary Fund, and how does it work?5 entry-level machine learning jobsHong Kong’s regulatory lead sets it up to be major crypto hubHong Kong govt pressures banking giants to accept crypto clients: ReportHong Kong says Cyberport attracted 150 Web3 firms in a year

News Feed

Nasdaq-Listed Microstrategy Obtains $205 Million Bitcoin-Backed Loan to Buy More BTC
Nasdaq-Listed Microstrategy Obtains $205 Million Bitcoin-Backed Loan to Buy More BTC Nasdaq-listed Microstrategy has obtained a $205 million bitcoin-collateralized loan from Silver
Bitcoin, Ethereum Technical Analysis: BTC Above $20,000, ETH Beyond $1,400 on Saturday
Bitcoin, Ethereum Technical Analysis: BTC Above $20,000, ETH Beyond $1,400 on Saturday Bitcoin rose back above $20,000 on Saturday, despite markets still being spooked by the colla
Leading NFT Marketplace Opensea Raises $300 Million, Firm’s Post-Money Valuation Taps $13.3 Billion
Leading NFT Marketplace Opensea Raises $300 Million, Firm"s Post-Money Valuation Taps $13.3 Billion Leading non-fungible token (NFT) marketplace Opensea announced the firm has rais
Crypto Broker Voyager’s Q1 Revenue Soars 186%, Assets Under Management Jump to $150 Million
Crypto Broker Voyager"s Q1 Revenue Soars 186%, Assets Under Management Jump to $150 Million Crypto asset broker Voyager Digital Ltd reported Monday that revenue
World Bank Warns of Global Recession, Stagflation — ‘This Is the Sharpest Slowdown in 80 Years’
World Bank Warns of Global Recession, Stagflation — "This Is the Sharpest Slowdown in 80 Years" The World Bank has warned of a possible global recession. “For many countri
Bitcoin Price Flashes Signal That Has Led To A Surge Every Time
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Bitcoin price 2-month highs on ‘soft landing’ may precede sub-$60K dip
William Suberg9 hours agoBitcoin price 2-month highs on ‘soft landing’ may precede sub-$60K dipBitcoin is marching through overhead liquidity as China announces economic stimulus measures, but some BTC price correcti
Metaverses could be a hub for distributing copyrighted work illegally — UK researchers
Ezra Reguerra31 minutes agoMetaverses could be a hub for distributing copyrighted work illegally — UK researchersResearchers concluded that it is necessary to formulate approaches for addressing the enforcement and gov
Jesse Coghlan8 hours agoBinance.US cuts third of staff as CEO Brian Shroder leavesThe staff cut and departure comes amid legal action from United States regulators.2815 Total views28 Total sharesListen to article 0:00New
Biggest Movers: QNT Hits 10-Month High on Saturday
Biggest Movers: QNT Hits 10-Month High on Saturday Quant rose to its highest point since the start of the year on Saturday, as prices climbed for a third straight session. In addit
Nayib Bukele Attributes Tourism Recovery in El Salvador to Bitcoin, Surf, and Crime Reduction
Nayib Bukele Attributes Tourism Recovery in El Salvador to Bitcoin, Surf, and Crime Reduction Nayib Bukele, the president of El Salvador, declared that the speedy recovery of touri
Shiba Inu Sees $120 Million Weekly Surge—Whales Tighten Their Grip
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu