The Hong Kong government recently announced the introduction of a stablecoin legislation, seen as an important step towards supporting digital assets and Web3.
Stablecoin Legislation
The stablecoin law will take effect from August 1 and is poised to strengthen Hong Kong's position as a hub for digital assets. This will facilitate the registration and management of stablecoins, attracting more investments into the sector.
Matrix AI Network and its Development
Founded in 2017, Matrix AI Network has been actively developing its technologies. In 2023, the company introduced Matrix 3.0, which blends neuroscience with previous work, aiming to realize ambitious goals inspired by 'The Matrix' films.
Opportunities and Future for Web3 in Hong Kong
With the introduction of stablecoin legislation, local companies like Matrix AI Network see new growth opportunities. Active discussions and consultations regarding future directions and strategies in this area are expected in the coming months.
The introduction of the stablecoin law in Hong Kong marks a significant step towards creating a favorable environment for Web3 and attracting new projects to this rapidly evolving sector.
