According to ChainCatcher news, Hong Kong Legislative Council member Wu Jiezhuang posted on platform X, stating that he will continue to promote the development of Web3 in Hong Kong. He shared his views on the future direction of stablecoins, RWA development, and more as follows:
It is believed that the development of stablecoins in Hong Kong will not undergo significant changes and will continue to move forward steadily. The stablecoin regulatory bill was passed in the seventh Legislative Council after a long period of deliberation and discussion. The overall development will align with the international and local financial environment in Hong Kong, moving forward steadily, initially trying out in the local market, with the goal of developing the international market and leveraging Hong Kong's position as a financial and innovation center.
RWA is a topic that is currently being discussed a lot in the traditional and Web3 industries. Hong Kong has already promoted a regulatory sandbox, and it is believed that under the sandbox, the importance of compliant development and the direction of future regulation will be explored. It is thought that different industries can boldly try to combine Web3 technology, which is believed to drive the development of a large number of physical applications.
The demand for developers is increasing rapidly. More and more companies are setting up in Hong Kong for Web3 public chains, compliant trading platforms, underlying infrastructure, etc. The success of developers is closely linked to innovation and technology companies, and in the future, it will assist the industry in building a talent ecosystem, promoting more developers and practitioners to settle in Hong Kong.
