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The co-founder and executive chairman of Animoca Brands Corporation Ltd, Yat Siu, has been appointed to the Hong Kong Task Force on Promoting Web3 Development.
The new task force has been established by the Government of the Hong Kong Special Administrative Region as a result of its Policy Statement on Development of Virtual Assets in Hong Kong, which was issued in October 2022.
This statement sets out the government’s policy stance and approach towards the sector.
Recognising that virtual assets are an integral part of a vibrant Web3 ecosystem, Hong Kong’s financial secretary announced in the 2023-24 Budget the establishment of a task force to provide recommendations on the sustainable and responsible development of Web3 in Hong Kong.
“Forward-thinking initiative”
Yat Siu said: “I am honoured to be appointed to the Task Force and I look forward to contributing to this forward-thinking initiative.
"The Task Force firmly establishes Hong Kong as the leading example of a mature and highly modernized economy that embraces the remarkable opportunities presented by Web3, blockchain, virtual assets and the open metaverse.
"I believe that the work of the Task Force will help to shape not only Hong Kong but also globally in the adoption of blockchain technologies, particularly in the areas of regulation, ecosystem building, industry development and talent development.”
Chaired by the financial secretary, the task force comprises 15 non-official members from the relevant market sectors, with the participation of key Government officials and financial regulators.