Wu Jiezhuang: Hong Kong should establish a specialized agency to coordinate the development of digital and cryptocurrency assets.

Techub News reported that according to a tweet by Hong Kong Legislative Council member Wu Jiezhuang, Hong Kong's gradually relaxing policies will help licensed companies and practitioners fully realize their potential. The Chief Executive has proposed that the first batch of stablecoin issuer licenses is expected to be issued starting in March this year, a move that will further enhance societal recognition and practical application of Web3. He suggested that Hong Kong consider establishing a dedicated agency or department to comprehensively oversee the development direction of digital and crypto assets. For example, by introducing clear guidelines or regulations to enable decentralized autonomous organizations (DAOs) to operate more compliantly in Hong Kong and attract more Level 1 public chain projects to develop and grow in Hong Kong.