Coinciding with the new digital asset regulations of Hong Kong, the paper's release is seen as a significant step forward in China's stance towards the crypto industry
ALSO: A Chinese governmental agency released a paper over the weekend that outlined suggestions for China's Web3 policy, but it didn't broach must new ground. Still, the paper represented progress for a country that is keen to write the next generation of technology standards
The Beijing Municipal Science and Technology Commission released the "Web3 Innovation and Development White Paper" during the Zhongguancun Forum, highlighting the significance of Web3 technology for the future of the Internet industry.