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Hong Kong Urged to Follow Japan and Singapore's Lead in Web3 and Crypto Development, Says Government Study

June 22 (Cointime) - A government study by the Research Office at Hong Kong's Legislative Council has recommended that Hong Kong should learn from Japan and Singapore in its efforts to develop and embrace Web3 technologies and crypto.

The study pointed to Japan's national Web3 strategy, Singapore's focus on blockchain use cases and South Korea's metaverse strategy as examples worth considering.

It called for more legal clarity to create an environment conducive to Web3 technologies and urged Hong Kong's Legislative Council to catch up with metaverse-related developments in other countries.

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