Johnny Ng, a Hong Kong lawmaker, said his team is collecting policy feedback from the global Web3 industry following the establishment of a crypto subcommittee under the Legislative Council.

Ng wrote in an X post on Saturday that the Hong Kong parliament has recently set up a subcommittee on Web3 and virtual asset development. “My office seeks to gather insights from the global Web3 industry, propose policy recommendations, and discuss the future direction of the industry in Hong Kong,” he said.

The key focuses for the new subcommittee — chaired by Ng — include enhancing the protection of crypto investors, ensuring financial stability without stifling stablecoin innovation, and exploring regulatory measures for professional crypto custody services.

Ng’s office is also calling for …