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

February 11 – Carrie Lam, Chief Executive of the Hong Kong Special Administrative Region, said Wednesday Hong Kong is increasingly emerging as a key hub for Web3 and cryptocurrency innovation. She delivered opening remarks at **Consensus Hong Kong** (hosted by CoinDesk) in a prerecorded address, outlining the city’s efforts to support the crypto community and industry. “The Hong Kong SAR Government is committed to making Hong Kong a global hub for digital asset innovation,” she stated. “Over the past few years, we’ve actively built a regulatory framework to drive robust, sustainable growth of our Web3 ecosystem.” Lam highlighted Hong Kong’s unique advantages: its ability to capitalize on the booming crypto sector while leveraging proximity to mainland China and global financial markets. “Under the ‘one country, two systems’ principle, Hong Kong is the only city combining the strengths of China and the world,” she said. “Most importantly, our financial system is strong—with deep liquidity, innovative products, and world-class investor protection.” She noted key crypto initiatives: last year’s digital asset regulatory policy statement, and progress on stablecoins. The Hong Kong Monetary Authority (HKMA) is near issuing stablecoin issuer licenses, with the first batch expected next month. The Securities and Futures Commission (SFC) is also working to boost liquidity in Hong Kong’s virtual asset market to “fuel growth in this dynamic sector.” “Hong Kong is well-positioned to lead in Web3 development,” she emphasized. “We’ll keep pushing to stay at the forefront of this critical financial-tech shift. We welcome global firms and institutions to join us in building a brighter digital future.”