In addition, Chan emphasized Hong Kong’s commitment to supporting the growth of the Web3 industry in the region, aiming to become a hub for crypto innovation. The regulatory requirements for virtual asset providers are set to be similar to those for traditional financial institutions from June 1, marking a significant change in the region’s approach to cryptocurrency regulation. Hong Kong’s Financial Secretary Paul Chan announced the completion of the government’s crypto regulation framework earlier this year. This is part of an effort by the district to become a leading region for the “Internet 3.0 industry by 2025.” Hong Kong opening up to crypto. The report was released as a partnership between the Beijing Municipal Science and Technology Commission and the Zhongguancun Science Park Management Committee, entitled the “Beijing Internet 3.0 Innovation and Development White Paper (2023).” It reportedly emphasizes a commitment to web3 and Metaverse innovations.Īccording to The Paper, published by state-backed media conglomerate Shanghai United, Chaoyang District plans to invest no less than 100 million yuan annually in special funds to support the construction of the web3 industry ecosystem. The development, thus, raises questions about the potential implications and impact on the broader cryptocurrency industry in the area. Jason Fang from Sora Ventures shared similar thinking on CryptoSlate’s SlateAsia podcast on numerous occasions, with Fang viewing Hong Kong as the “test bed” for crypto regulation in the region. The simultaneous release of Beijing’s web3 white paper and Hong Kong’s regulatory push for cryptocurrency exchanges may signal the beginning of a more open approach to digital assets in the region. “Interesting timing on this Web 3.0 white paper from the Beijing government tech committee with the June 1st anticipation in Hong Kong.” However, as Binance CEO Changpeng Zhao (CZ) highlighted on Twitter, the white paper’s publication is just days from the upcoming June 1 application opening for Hong Kong cryptocurrency exchanges. And with this app, you won't miss a thing - we'll keep you informed about everything that's interesting or necessary for you.On May 27, Beijing released an “Internet 3.0 Innovation and Development” white paper outlining advancements and support for Internet 3.0 ( web3) and the metaverse, according to reports from Chinese media, ThePaper. Through the app, you'll receive personal messages, have access to My Timing, and be able to approve documents with ease. Just click on the + menu in the middle of the app and let us know when you're available or need to request time off. Of course, with this app, you can view your weekly and monthly schedule at any time, in a clear and easy-to-use format. And most importantly, you can always check your latest payslip. You can also easily track your hours worked and clock in and out with the app.
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