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Hong Kong Chief Executive Lee Ka-Chao: Attaches Great Importance to the Development of Web3.0, and Is Fully Discussing the Regulatory Arrangements for Stablecoins

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August 15th, Hong Kong Chief Executive Lee Ka-chao attended the Innovation, Technology and Art Summit hosted by the Bauhinia Magazine Society via video. The theme of this summit was "Web 3.0 Return: Constructing a Golden New Starting Point", closely following the direction of Hong Kong's development of innovative technology and cultural arts as new growth points in the "14th Five-Year Plan". 

The Hong Kong SAR Government attaches great importance to the development of financial technology and Web 3.0, and has issued policy declarations, clearly stating that Hong Kong maintains an open and inclusive attitude towards innovators engaged in virtual asset businesses worldwide.

In June of this year, a new licensing system for virtual asset trading platforms has been implemented, and the regulatory arrangements for stablecoins are also being fully explored. 

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