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Hong Kong Turns to Japan for Advice After ‘Mind-Boggling’ Web3 Influx

In light of Hong Kong’s 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 something worth taking the trip for.

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.

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’s regulations concerning digital assets.

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