- Hong Kong‘s Chief Executive, John KC Lee, has declared the city’s goal to become a global hub for Web3 and digital assets.
- The government is advancing a regulatory framework and expects to issue its first stablecoin licenses in the coming month.
- Hong Kong leverages its unique position under China‘s “one country, two systems” principle to merge local advantages with global financial markets.
Hong Kong’s Chief Executive, John KC Lee, emphasized the city’s commitment to becoming a global Web3 hub during his opening remarks at the CoinDesk Consensus Hong Kong conference. He stated that the government is actively building a regulatory framework to ensure steady and sustainable growth in the sector.
This strategic push capitalizes on Hong Kong’s unique position under the “one country, two systems” principle. Consequently, the city aims to merge its deep financial market liquidity with robust investor protections to attract global innovation.
Specifically, Lee highlighted that the Hong Kong Monetary Authority is close to issuing its first licenses for stablecoin issuers. Meanwhile, the Securities and Futures Commission is working to enhance virtual asset market liquidity.
“Hong Kong is in a strong position in promoting Web3 development,” Lee concluded. He invited companies worldwide to join the city in building a brighter digital future together.
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