The Hong Kong Legislative Council's Web3 and Virtual Asset Development Subcommittee held a meeting on November 19 to discuss promoting the application of blockchain technology and the development of Web3. Business sector legislator Yim Kong suggested combining the virtual asset index with the development of stablecoins in Hong Kong, allowing Hong Kong to gain a certain degree of influence in the pricing power of virtual asset trading, and hopes that the SAR government will further plan in this regard.