Hong Kong Finance Minister Paul Chan stated that the right time has come for Web3 development despite the current volatility in the cryptocurrency market.
Paul Chan soon of the Ministry of Finance In a blog post published on the official website, Web3 in the country to adopt his work on increase for right time stated that they were.
Minister, the necessary work on the subject will start immediately and existing projects will advance expressed. Chan, the government Web3 to its goals budget in importance during the plans Web3 technologies three main focuses from the point someone He emphasized that he would.
Cryptocurrency industry 2000s emerged in the early years dot-com Compared to the bubble, the minister said that the crypto money sector is much more silent emerged and found itself in real-world usage areas. that you support stated. However, the recent with crises together with the industry eliminated some of the actors by the minister implied.
Chan says Web3 has been steadily innovation in order to progress on the way appropriate regulatory framework. will be provided as well as development will be encouraged a strategy will be determined reported. Minister, the sector appropriately by checking black money subject of its activities not to be And financial system in terms of that they will ensure that they do not pose a risk added to the comments.
Hong Kong in the province during the year Web3 ecosystem development for 6.4 million dollar allocating a budget had announced.