{"id":17639,"date":"2023-03-30T13:50:06","date_gmt":"2023-03-30T13:50:06","guid":{"rendered":"https:\/\/nftandcrypto-news.com\/crypto\/hong-kong-turns-to-japan-for-advice-after-mind-boggling-web3-influx\/"},"modified":"2023-03-30T13:50:08","modified_gmt":"2023-03-30T13:50:08","slug":"hong-kong-turns-to-japan-for-advice-after-mind-boggling-web3-influx","status":"publish","type":"post","link":"https:\/\/nftandcrypto-news.com\/crypto\/hong-kong-turns-to-japan-for-advice-after-mind-boggling-web3-influx\/","title":{"rendered":"Hong Kong turns to Japan for advice after \u2018mind-boggling\u2019 Web3 influx"},"content":{"rendered":"<p><\/p>\n<div data-v-48054ca8=\"\">\n<p>In light of Hong Kong\u2019s commitment to developing cryptocurrency infrastructure, a FinTech official King Leung has visited Japan to talk with policymakers and regulators in Tokyo to better understand the idea around Web3 digital assets.<\/p>\n<p>In an interview with Cointelegraph reporter Jesse Coghlan, King said that understanding the rationale behind Japan designing those regulations was something worth taking the trip for.<\/p>\n<p>In October, Hong Kong initiated its efforts to establish itself as a leading global center for cryptocurrency by introducing policies aimed at fostering a crypto-friendly regulatory framework for the industry within its borders.<\/p>\n<p>King also mentioned talking to industry players to get a holistic view. According to King, findings from his visit would be reported back to policymakers and regulators in Hong Kong to be included in the considerations for designing the city\u2019s regulations concerning digital assets.<\/p>\n<p>King explained that digital assets, including other assets such as tokenized bonds and tokenized revenue streams from internet protocols (IP), would likely be monetized to create revenue streams. This was in response to the strategic importance of Web3 and crypto in the context of the economic development of Hong Kong and was in line with one of the discussions he had in Japan.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Hong Kong fund plans to raise $100 million for crypto investment<\/em><\/strong><\/p>\n<p>According to King, \u201cInvestHK did not expect this enormous, massive level of enthusiasm.\u201d He described it as mind-boggling as he received statistics saying that in March and April alone, Hong Kong has over 100 Web3- or digital asset-related events. King mentioned that despite the fact that the natural inability to satisfy the needs of the market wishes completely, the government is working as quickly as it can.<\/p>\n<p>Regarding the readiness of the government towards these Web3 plans, King said the projects might not be ready by June 1st, and the government just has to prioritize and do the things that have the biggest impact first.<\/p>\n<p><strong><em>Magazine: <\/em><\/strong><strong><em>Hong Kong crypto frenzy, DeFi token surges 550%, NBA China NFTs \u2014 Asia Express<\/em><\/strong><\/p>\n<p><template data-name=\"subscription_form\" data-type=\"law_decoded\"\/><\/div>\n","protected":false},"excerpt":{"rendered":"<p>In light of Hong Kong\u2019s commitment to developing cryptocurrency infrastructure, a FinTech official King Leung has visited Japan to talk with policymakers and regulators in Tokyo to better understand the idea around Web3 digital assets. In an interview with Cointelegraph reporter Jesse Coghlan, King said that understanding the rationale behind Japan designing those regulations was [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":17640,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"footnotes":""},"categories":[42],"tags":[],"class_list":["post-17639","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Hong Kong turns to Japan for advice after \u2018mind-boggling\u2019 Web3 influx | NFT &amp; Crypto News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nftandcrypto-news.com\/crypto\/hong-kong-turns-to-japan-for-advice-after-mind-boggling-web3-influx\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Hong Kong turns to Japan for advice after \u2018mind-boggling\u2019 Web3 influx | NFT &amp; Crypto News\" \/>\n<meta property=\"og:description\" content=\"In light of Hong Kong\u2019s commitment to developing cryptocurrency infrastructure, a FinTech official King Leung has visited Japan to talk with policymakers and regulators in Tokyo to better understand the idea around Web3 digital assets. In an interview with Cointelegraph reporter Jesse Coghlan, King said that understanding the rationale behind Japan designing those regulations was [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/nftandcrypto-news.com\/crypto\/hong-kong-turns-to-japan-for-advice-after-mind-boggling-web3-influx\/\" \/>\n<meta property=\"og:site_name\" content=\"NFT &amp; Crypto News\" \/>\n<meta property=\"article:published_time\" content=\"2023-03-30T13:50:06+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-03-30T13:50:08+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/nftandcrypto-news.com\/wp-content\/uploads\/2023\/03\/e5d95686-7a54-46b7-967f-d80a8615b626.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"799\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Staff\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Staff\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/nftandcrypto-news.com\/crypto\/hong-kong-turns-to-japan-for-advice-after-mind-boggling-web3-influx\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/nftandcrypto-news.com\/crypto\/hong-kong-turns-to-japan-for-advice-after-mind-boggling-web3-influx\/\"},\"author\":{\"name\":\"Staff\",\"@id\":\"https:\/\/nftandcrypto-news.com\/#\/schema\/person\/352194e8b0cb9ae3ad5480e201b5f792\"},\"headline\":\"Hong Kong turns to Japan for advice after \u2018mind-boggling\u2019 Web3 influx\",\"datePublished\":\"2023-03-30T13:50:06+00:00\",\"dateModified\":\"2023-03-30T13:50:08+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/nftandcrypto-news.com\/crypto\/hong-kong-turns-to-japan-for-advice-after-mind-boggling-web3-influx\/\"},\"wordCount\":343,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/nftandcrypto-news.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/nftandcrypto-news.com\/crypto\/hong-kong-turns-to-japan-for-advice-after-mind-boggling-web3-influx\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/nftandcrypto-news.com\/wp-content\/uploads\/2023\/03\/e5d95686-7a54-46b7-967f-d80a8615b626.jpg\",\"articleSection\":[\"Crypto\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/nftandcrypto-news.com\/crypto\/hong-kong-turns-to-japan-for-advice-after-mind-boggling-web3-influx\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/nftandcrypto-news.com\/crypto\/hong-kong-turns-to-japan-for-advice-after-mind-boggling-web3-influx\/\",\"url\":\"https:\/\/nftandcrypto-news.com\/crypto\/hong-kong-turns-to-japan-for-advice-after-mind-boggling-web3-influx\/\",\"name\":\"Hong Kong turns to Japan for advice after \u2018mind-boggling\u2019 Web3 influx | NFT &amp; 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