Wu Jiezhuang: Suggests Hong Kong establish a dedicated agency or department to comprehensively coordinate the development of digital and crypto assets.

Hong Kong Legislative Council member Ng Kit-chung posted on the X platform that Hong Kong's gradually relaxed policies will allow licensed companies and industry practitioners to fully realize their potential. The Chief Executive of the Hong Kong Special Administrative Region has proposed that the first batch of stablecoin issuer licenses be issued starting in March this year, which is believed to further enhance the acceptance and practical application of Web3 in society. He suggested that Hong Kong could consider establishing a dedicated agency or department to coordinate the development direction of digital and crypto assets, such as introducing clear guidelines or regulations to allow decentralized autonomous organizations (DAOs) to be more compliant in Hong Kong and attract more Level 1 public chain projects to flourish in Hong Kong.