Wu Jiezhuang: The industry should actively participate in digital asset legislation consultation to improve Hong Kong's Web3 policy framework.

Techub News reported that Hong Kong Legislative Council member Wu Jiezhuang tweeted that the Hong Kong Special Administrative Region Government's Financial Services and the Treasury Bureau has initiated a legislative consultation on digital asset trading and custody services, marking a further clarification of related regulatory activities and responding to market demands. He stated that the proposed legislation will help establish the compliant status of over-the-counter trading and custody services for crypto and digital assets, and can combat suspected fraudulent activities conducted under the guise of such operations. He also called on the industry to "express more opinions" during the one-month consultation period to improve Hong Kong's Web3 development and related policies.