Hong Kong Establishes Task Force to Drive Ethical Development of Web3

In a move demonstrating its commitment to embracing the “megatrend” of Web3 development, Hong Kong has formed a task force consisting of a diverse group of industry and government officials. The task force, as announced in a statement on June 30, is dedicated to overseeing and promoting the responsible growth of Web3 in the region.

The government of Hong Kong has brought together 15 industry participants and 11 key government officials to spearhead the development of Web3. With a specific emphasis on ethical practices, the task force aims to provide recommendations for the sustainable and responsible advancement of Web3 in Hong Kong. This initiative was highlighted in the 2023-24 Budget by the Financial Secretary, underscoring the government’s dedication to fostering the development of Web3 in the region.

Read more: Cointelegraph