Aug 22, 02:58 AM

Hong Kong's Johnny Ng Pushes DAO Regulation Amid Challenges for 11 Crypto Exchanges

Johnny Ng, a Hong Kong lawmaker, is advocating for the regulation of decentralized autonomous organizations (DAOs) in response to a recent court order requiring defendants in a DAO case to disclose financial records. This move is seen as an effort to enhance transparency and boost Web3 investments in Hong Kong. The call for regulation comes amid Hong Kong's broader ambitions to establish itself as a hub for digital assets. However, the city's push for a digital-asset hub is facing challenges, as inspections of 11 crypto exchanges that received initial approvals revealed operational gaps, casting doubt on their ability to secure full licenses.

#Johnny Ng #Hong Kong #Web3

Written with ChatGPT (GPT-4o).