Wu Jiezhuang, a member of Hong Kong's Legislative Council, is exploring the feasibility of incorporating Bitcoin into the region's financial reserves.

He believes Hong Kong is at a critical juncture for regulatory compliance and industry growth, which could foster an innovative market environment.

This initiative aligns with the global trend of Bitcoin and Web3 technologies gaining traction as valuable assets, emphasizing their potential in the financial landscape.

Ng highlighted that Bitcoin is increasingly recognized as 'digital gold' and is seen as a hedge against inflation, making it a worthy consideration for financial reserves.

He stresses the importance of encouraging global blockchain development, which has addressed numerous financial and real-world challenges.

Hong Kong is evolving its regulatory framework to balance innovation and security in digital finance and blockchain adoption.

Despite the welcoming environment, concerns have been raised about stringent regulations for crypto exchanges, leading several major global exchanges to withdraw their license applications in Hong Kong.

Ng encourages the Hong Kong government to prioritize technological innovation and create a supportive environment for Web3 development.

To support the technical advancement of the industry, Ng advocates for creating an ecosystem that attracts global talent, capital, and innovative projects.

Wu's proposal was influenced by Donald Trump's recent speech at the Nashville Bitcoin Conference, where he discussed the potential of Bitcoin as a strategic reserve.

While Ng has not specified a timeline for stakeholder discussions, he promises to keep the public informed of any developments regarding the integration of Bitcoin.

Ng is committed to fostering the growth of the Web3 ecosystem in Hong Kong, highlighting the city's leadership in industry advancement and compliance regulations.