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  • Writer's pictureKyle

Former ApeCoin Special Council Member Yat Siu Was Appointed To Hong Kong's Web3 Task Force Today

Yat Siu's term on the ApeCoin DAO's Special Council ended earlier this month, but his tenure on Hong Kong's Web3 Development task force has just begun!

On Monday, Siu took to Twitter and announced that he would be joining Hong Kong’s Task Force on Promoting Web3 Development!

“I am honored to be appointed to the Task Force and I look forward to contributing to this forward-thinking initiative,” Siu said in a press release “The Task Force firmly establishes Hong Kong as the leading example of a mature and highly modernized economy that embraces the remarkable opportunities presented by Web3, blockchain, virtual assets, and the open metaverse. I believe that the work of the Task Force will help to shape not only Hong Kong but also globally in the adoption of blockchain technologies, particularly in the areas of regulation, ecosystem building, industry development, and talent development.”

Hong Kong’s Web3 task force was established in October 2022 after the government issued a policy on Web3 and digital assets.

“As an international financial center, Hong Kong is open and inclusive towards the global community of innovators engaging in VA businesses,” Hong Kong’s Financial Services And Treasury Bureau wrote at the time. “We applaud the achievements of the community in pioneering distributed ledger technologies (“DLT”), and in developing new financial innovations aiming to be more cost-efficient, inclusive, agile, and future-proof. We recognize VA is here to stay, given how it has attracted attention of global investors and is increasingly viewed as a conduit for financial innovations, not to mention the future opportunities that will be opened up as VA moves into the areas of Web 3.0 and the Metaverse. The Government, in conjunction with the financial regulators, are working towards providing a facilitating environment for promoting sustainable and responsible development of the VA sector in Hong Kong.”

After being appointed to Hong Kong’s Web3 task force, it is clear that Siu will be anything but bored following his term on the ApeCoin DAO's Special Council.

As the Bored Ape Gazette previously reported, Siu and his company, Animoca Brands, are working with Yuga Labs on several Yugaverse and BAYC video games, including the Legends of the Mara and a play to earn Bored Ape game that was first teased in December 2021.

“We are excited about our partnership with Yuga and are committed on continuing to contribute to the Ape ecosystem as a whole including more content and games,” Siu told the Gazette on April 3rd.

The Bored Ape Gazette will continue to follow Siu and will keep you posted on what he does next! Stay tuned for updates!

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