Hong Kong Parliament Policy Related To Web3 And Crypto Expected To Be Transmitted To Indonesia

INDODAX CEO, Oscar Darmawan. (Photo: Doc. INDODAX)

JAKARTA - Potential and opportunities for the global crypto industry are increasingly open. Hong Kong is one of the countries that supports innovation in the fields of Web3 and crypto as well as friendly regulations to implement in the community.

Not only the government, but the Hong Kong parliament has also formed a special subcommittee to encourage the development of Web3 technology and virtual assets in the region. This step is expected to create a solid framework for the growth of this new technology ecosystem in line with global trends and rapidly growing market needs.

Later, the subcommittee will focus on increasing protection for crypto investors, ensuring financial stability without hindering stablecoin innovation, and exploring regulations for professional crypto custodial services.

Oscar Darmawan, CEO of Indodax, welcomed this step and emphasized the importance of a supportive regulatory approach. This initiative demonstrates the commitment of a country to become a center for financial technology innovation, including crypto assets and Web3.

"A clear and supportive regulation will give more confidence to investors and industry players, as well as encourage the development of a healthy ecosystem. It also opens up opportunities for international collaboration and wider exchange of knowledge," Oscar said in his statement, Monday, July 1.

According to Oscar, investor protection is key to building trust in the crypto market. Investors need to feel safe and confident that their assets are well protected.

This move is considered a positive impetus towards broader and comprehensive innovation. On the other hand, he also sees the integration of AI and Web3 as a great potential to pave the way for new solutions that are more efficient and secure.

"Integration of AI and Web3 can pave the way for new solutions that are more efficient and secure. This step is expected to facilitate more advanced and comprehensive technological developments," he said.

Meanwhile, in Indonesia, policies related to the crypto industry and ecosystem also show positive developments. The Indonesian government is open to new technologies such as blockchain and Web3, realizing the potential for transformation of this technology in increasing efficiency and transparency in various economic sectors.

Despite the challenges in regulating the crypto sector, the Indonesian government has tried to develop clear and risk-based regulations, with a balanced approach between facilitating innovation and protecting consumers and investors.

As a potential investor, it's a good idea to understand the world of blockchain, web3, and crypto before deciding to invest. INDODAX provides the INDODAX Academy platform for free on websites, youtubes, and social media to learn about blockchain, web3, and crypto from scratch to powerful.