Hong Kong Task Force appoints Yat Siu on the table

Animoca Brands is now seeing its Co-Founder and Executive Chairman climb up the ladders in Hong Kong. The country is on the edge of becoming a global hub for Web3 and metaverse segments. Assuming things move seamlessly, it could also host digital tokens for the world. While that is a far-fetched thought, something that carries surety is the fact that Yet Sio is now a part of Task Force on Promoting Web3 & Development, referred to as Task Force in the remainder of the article.

The Task Force has been legitimately established under the Governance of the Hong Kong Special Administrative Region. Animoca Brands has been working in the section to protect digital property rights in metaverse and gaming. It has outgrown the expectations of the community, now aiming to achieve every possible milestone that comes its way.

It will be chaired by the Financial Secretary and have 15 non-official members. The Task Force will see participation from Governance officials and regulators of the financial sector. All the non-official members boarding the Task Force are relevant to the industry in one way or another.

Yat Siu has appreciated the efforts of Hong Kong officials, saying that the region is a prime example of how a modernized economy embraces opportunities that blockchain, Web3, and similar fields offer. Yat has expressed his confidence in the Task Force, stating that it will not just help shape Hong Kong but also help other countries across the world in adopting the technologies that are emerging in the coming times.

Moreover, Yat Siu is confident that the crafting of the Task Force will bring about regulations and an ecosystem that goes a long way along with the development of regional talent.

Hong Kong advancing through the Task Force follows a Policy Statement that was issued in October 2022. It pertains to the development of virtual assets, specifically in Hong Kong. The contributors to the Policy Statement have identified digital assets, or cryptocurrencies, as an integral part of the Web3 ecosystem.

The Policy Statement also highlights the responsibility of the Task Force. The newly established team is tasked with recommending ways to develop the Web3 ecosystem in Hong Kong. They have to consider that the development is sustainable and achieved in a responsible manner.

Yat Siu joins the list of non-official members of the Task Force along with Ms. Joy Lam, Mr. Neil Tan, Dr. Jack Kong Jianping, Professor Jack Poon Silk-ching, and Professor Lin Chen.

Yat Siu’s appointment comes days after Animoca Brands announced joining hands with The RugbyDAO with the objective of enhancing the experience of Rugby fans. The partnership has been termed a major milestone for both ventures in their journey of boosting the adoption of web3 and blockchain technologies.

Animoca Brands is celebrating the appointment of Yat Siu for all the right reasons, one can assume. The venture has joined hands with suitable partners before, and taking that mission forward is only a logical solution in the industry.

Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.

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