Hong Kong Financial Secretary Paul Chan: Appropriate regulation of Web3 is necessary, and a dedicated task force for the development of virtual assets will be established

ChainCatcher news, Hong Kong Financial Secretary Paul Chan stated that promoting the development of the third generation of the Internet (Web3) must not undermine the stability of the financial system and investor protection, and appropriate regulation is necessary. He will establish a dedicated task force for the development of virtual assets to submit recommendations to the government on the sustainable and responsible development of the industry.