Finance
What to know:
- Gospodin John KC Lee, the chief executive of the Hong Kong Special Administrative Region, spoke softly of a government resolved to cast the city as a global haven for digital assets and Web3 enterprise.
- He reminded listeners of the peculiar charm of the “one country, two systems” arrangement, the generous liquidity which the financial markets enjoy, and the shield of investor protections that makes this enterprise bearable to those who fear the unknown.
- The Hong Kong Monetary Authority edges toward granting the first licenses for stablecoins, while the Securities and Futures Commission toils to swell the liquidity of the virtual asset market.
HONG KONG – In truth the place hums with the promise and peril of Web3, a theatre where ideas chase after coins the way evening fog chases the sun.
John KC Lee, head of the Hong Kong Special Administrative Region, opened CoinDesk’s Consensus Hong Kong with a speech that tenderly described the city’s labor to gather crypto communities and enterprises into a single, if slightly skeptical, chorus.
“The HKSAR Government is committed to establishing Hong Kong as a global hub for innovation in digital assets,” he said in taped remarks. “That’s why over the past few years, Hong Kong has been actively building the regulatory framework to promote the steady and sustainable development of our Web3 ecosystem.”
He suggested Hong Kong stands to profit both from the swelling tide of crypto activity and its own weathered proximity to China and the wider seas of finance.
“Under the unique ‘one country, two systems’ principle, Hong Kong is the only city that converges both the China advantage and the global advantage,” he said. “… What’s more, Hong Kong’s financial regulatory system is robust, and our financial market stands out for its deep liquidity, innovative products and world-class investor protection.”
More precisely, he noted Hong Kong’s ongoing labors in crypto, including last year’s policy statement on digital asset regulation and the work on stablecoins.
The Hong Kong Monetary Authority edges toward issuing licenses for stablecoin issuers, he claimed, with the first licenses perhaps arriving in the coming month.
Likewise, Hong Kong’s Securities and Futures Commission toils to swell the virtual asset market’s liquidity, to facilitate the growth of this lively corner of finance.
“Hong Kong stands firm in promoting Web3,” he asserted. “The city will press on to keep the helm at the crest of this turning tide in finance and technology. We invite companies and institutions from every shore to join hands with us, and fashion a brighter digital future together.”
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2026-02-11 05:07