Legislator Wu Jiezhuang: Hong Kong Stablecoin Development Will Progress Steadily, Different Industries Can Boldly Combine RWA and Web3 for Exploration

In a recent post, Hong Kong legislator Wu Jiezhuang expressed his commitment to advancing the development of Web3 in Hong Kong, sharing his views on the future direction of stablecoins and RWA development. He believes that the development of stablecoins in Hong Kong will continue to progress steadily without major changes. The stablecoin regulatory bill was passed in the seventh Legislative Council after lengthy deliberation. The overall development will align with the international and local financial environment, starting with the local market as a trial before expanding to the international market to leverage Hong Kong's position as a financial and innovation hub. RWA is a topic that is widely discussed in both traditional and Web3 industries. Hong Kong has already promoted regulatory sandboxes to explore the importance of compliant development and the future direction of regulation. Wu suggests that different industries can boldly combine Web3 technology for exploration, believing it can drive the development of numerous real-world applications. The demand for developers is rapidly increasing, with more and more companies in Hong Kong focusing on Web3 public chains, compliant trading platforms, and underlying infrastructure. The success of developers and innovation companies are closely linked, and in the future, efforts will be made to build a talent ecosystem to attract more developers and professionals to settle in Hong Kong.

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