Hong Kong to Unveil Virtual Assets-Related Policy Statement on Upcoming Fintech Week

blockchain.news:

The Hong Kong Special Administrative Region's government will release the plans for the development of virtual assets in the city during the upcoming FinTech Week by the end of the month.

In a blog post published by Financial Secretary Paul Chan Mo-po on Sunday, the policy statement will consist of the government's «vision and strategy, regulatory regime, attitude towards opening up investors’ access to virtual assets, and the technological advantages brought by virtual assets launch pilot projects.»

The annual Hong Kong FinTech Week will be held from October 31st to November 4th, with the theme of «Breaking the Boundaries and Creating Extraordinary». «The policy statement will clearly express the government's position, demonstrate to the global industry our vision to develop Hong Kong into an international virtual asset centre, and our commitment and determination to explore financial innovation with the global asset industry,» the blog post stated.

Alongside the traditional fintech events, similar to last year, Hong Kong FinTech Week will also host the third-generation Internet (Web3), the Metaverse and other concepts to add new elements. 

«A first-come, first-served basis, in the form of non-fungible tokens (NFT) to distribute limited quantities to participants version of the Proof of Attendance Protocol (POAP) token,» will be part of the blockchain attraction for the annual fintech event.

Owners of these NFT tokens will gain access to creating their personal avatars through 3D scanning, according to the blog post. It further added that token owners «will be able to use the tokens to participate in other industry events preferentially in the future.»

Development of virtual assets in Hong Kong

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