Hong Kong Web3.0 Association established

Thank you, Mr. Air, a netizen of CTOnews.com, for your clue delivery! CTOnews.com April 11 news, the Hong Kong Web3.0 Association held a ceremony in the Hong Kong Financial Exchange, is expected to promote Hong Kong Web3.0 technological change and industrial upgrading, promote the construction of the ecological environment.

The Chief Executive of the Hong Kong Special Administrative region, Mr Li Jiachao, said that in order to seize the opportunities of Web3.0, the SAR Government has allocated 50 million yuan to the Cyberport in the new budget to accelerate the development of the Web3.0 ecosystem, especially cross-sector business cooperation. Cyberport established the "Cyberport Web3 Base" at the beginning of this year to better unite Web3.0 start-ups and talents around the world.

In recent months, a number of leading start-ups and high-tech start-ups are considering setting up operations in Hong Kong, including virtual asset exchanges, blockchain infrastructure companies, virtual currency wallets and payment companies, and other Web3.0-related projects.

CTOnews.com has learned that the Hong Kong government's new licensing system for virtual asset service providers will be implemented in June to provide a degree of market recognition for virtual asset exchanges.