According to Techub News, Hong Kong Legislative Council member Wu Jiezhuang recently submitted written recommendations to Chief Executive John Lee regarding expectations and suggestions for the 2025 Policy Address, covering 6 major areas with 27 recommendations. The following are details of the recommendations related to the Web3 category:
1. It is recommended to further promote Hong Kong as a Web3 hub: focusing on policy support, talent cultivation, and industrial ecology, including improving regulations and tax incentives for cryptocurrency and tokenized assets. Strengthen the connection between the traditional financial system and the cryptocurrency market, allowing the Web3 industry to enhance the GDP output of the real economy, innovate digital economic models, and improve the quality of digital economic development.
2. Lead the establishment of a Belt and Road cryptocurrency regulatory alliance: unite countries and regions along the Belt and Road to jointly promote the development of Web3 policy regulation, hold an annual cryptocurrency regulatory summit in Hong Kong, and design Web3 standards that comply with international rules.
3. Establish the 'Asset Tokenization' RWA Development Academy: the academy's functions include researching relevant compliance regulations and promoting opportunities for asset tokenization in Hong Kong, thereby attracting more enterprises to develop in Hong Kong.
