Secretary Lee Ka-chiu delivers Opening Remarks at Consensus Hong Kong: Committed to Establishing Hong Kong as a Global Hub for Digital Asset Innovation

BlockBeats News, February 11th - Carrie Lam, Chief Executive of the Hong Kong Special Administrative Region, stated on Wednesday that Hong Kong is increasingly becoming an important development hub for Web3 and cryptocurrency innovation.

Lam delivered the opening remarks at the Consensus Hong Kong conference hosted by CoinDesk, briefly outlining Hong Kong's efforts in nurturing the crypto community and industry. In a prerecorded address, she stated, "The Hong Kong SAR Government is committed to establishing Hong Kong as a global hub for digital asset innovation. That is why over the past few years, Hong Kong has been actively building a regulatory framework to drive robust and sustainable development of our Web3 ecosystem."

Lam pointed out that Hong Kong has unique advantages, being able to seize the growing momentum in the cryptocurrency field while leveraging its existing position adjacent to the mainland and broader financial markets. "Under the unique principle of 'one country, two systems,' Hong Kong is the only city that combines the strengths of China and the world. More importantly, Hong Kong's financial regulatory system is sound, and our financial markets are renowned for deep liquidity, innovative products, and world-class investor protection."

She specifically mentioned several initiatives Hong Kong has taken in the cryptocurrency field, including last year's release of a digital asset regulatory policy statement and stablecoin-related work. She stated that the Hong Kong Monetary Authority is close to issuing licenses to stablecoin issuers, with the first batch of licenses expected to be issued next month.

Likewise, the Securities and Futures Commission of Hong Kong is working to enhance the liquidity of the local virtual asset market to further "foster the development of this vibrant growth area."

"Hong Kong is well-positioned to advance Web3 development," she emphasized. "Hong Kong will continue to spare no effort to stay at the forefront of this key financial and technological transformation. We welcome global companies and institutions to join hands with us in building a brighter digital future together."