• On the 2023 Caixin Summer time Summit, Hong Kong Finance Minister Chen Mao-bo mentioned the town’s intention to push for an applicable regulatory framework.
• Chen Maobo is assured that blockchain will “positively proceed to develop sooner or later.”
• Hong Kong’s true potential might be unlocked when China lifts its ban on cryptocurrencies and permits Hong Kong residents to commerce digital property all through the area.

Throughout the Caixin Summer time Summit 2023 on 9 June, Hong Kong SAR Authorities Finance Minister Chen Maobo introduced Hong Kong’s intention to place in place an applicable regulatory framework to help the accountable progress of web3 and digital property within the area. backside.

Hong Kong’s Finance Minister mentioned blockchain may create an open, safe and low-cost platform. Chen Maobo added that though some digital asset service suppliers function irregularly, blockchain will develop sooner or later regardless.

Chen Maobo mentioned: The underlying expertise of Net 3.0 is blockchain. Prefer it or not, blockchain will definitely proceed to evolve.

The 2023 Caixin Summer time Summit, with the theme of “Voyage to the New Stage of Opening”, will entice high-ranking authorities officers from residence and overseas, influential world enterprise leaders, authoritative specialists, lecturers, and eminent entrepreneurs. The homes have come collectively.

Along with Chen Maobo, the Caixin Summit may even be attended by the Chairman of the Securities Regulatory Fee, the Chairman of the Financial Authority and the Chairman of the Hong Kong Inventory Change.

Just lately, Hong Kong launched a long-awaited regulatory regime for the cryptocurrency business. Nevertheless, the area will solely attain its true potential as soon as China lifts its ban on cryptocurrencies, permitting residents to commerce digital property by way of Hong Kong.

On the Caixin Summit, Mao Bo emphasised Hong Kong’s efforts to leverage its strengths, actively coordinate with nationwide growth methods, and promote regional opening up and cooperation.

Chen Maobo believes that Hong Kong ought to play its function as a excessive value-added service platform for funding and financing. He acknowledged that whereas the worldwide financial system is recovering from the consequences of the pandemic, the worldwide political and financial panorama stays advanced.