Financial Secretary of Hong Kong, Paul Chan, stated in his keynote speech at the Consensus 2025 summit that as the Web3 ecosystem continues to develop, Hong Kong will "maintain a stable, open and vibrant digital asset market" to further consolidate its position as a regional cryptocurrency hub.
"We are heavily investing in related infrastructure and talent cultivation," he emphasized, noting that Hong Kong not only has an environment suitable for Web3 innovation, but is also committed to providing a fertile ground for the development of digital assets and fintech.
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ToggleHong Kong Science and Technology Park and academic cooperation to promote blockchain innovation
Paul Chan pointed out that Cyberport and Science Park have become the core hubs for Web3 innovation and fintech. At the same time, Hong Kong's universities are actively collaborating with industry partners to cultivate a new generation of blockchain professionals, ensuring the continuous advancement of technological innovation.
According to the latest data, the Web3 ecosystem in Cyberport has currently attracted over 270 blockchain companies, with 120 new additions in the past 17 months, indicating Hong Kong's growing appeal in the digital asset sector.
Tax exemption to promote friendly regulation and attract international capital
As a special administrative region of China, Hong Kong has actively promoted financial innovation in recent years and introduced a series of policy measures to attract the crypto industry. For example, the government has proposed to exempt crypto gains from hedge funds, private equity and family investment vehicles to enhance Hong Kong's appeal to international capital.
"The key to success is to maintain an open, fair, balanced and forward-looking regulatory approach, ensuring that financial innovation (including Web3) can develop responsibly and sustainably," Chan emphasized.
Regulatory progress in parallel, with stricter licensing review
Although Hong Kong is actively promoting the development of the crypto industry, the regulatory authorities remain cautious. As of now, the Hong Kong Securities and Futures Commission (SFC) has only issued 9 licenses since launching the crypto exchange licensing scheme last year, indicating a significantly stricter review process.
In January this year, the SFC issued operating licenses to two local Hong Kong exchanges, PantherTrade and YAX, showing that market regulation is progressing steadily.
AI and blockchain integration to open up new opportunities in future finance
In addition to the development of the cryptocurrency market, Chan specifically mentioned that the integration of artificial intelligence (AI) and blockchain is an important trend worth watching in the future. He believes that AI technology is evolving rapidly and is being increasingly applied in the financial sector, and will generate more innovative applications in combination with blockchain.
"The convergence of AI and blockchain will bring new application scenarios, with both opportunities and challenges. Hong Kong has already formulated clear policies on AI financial services," he said, noting that the government and financial regulators are closely monitoring the development of technology and the market, and are committed to establishing a transparent regulatory framework to ensure the healthy development of the industry.
It is worth noting that the Hong Kong Financial Services and the Treasury Bureau had already released a dual-track policy on the application of AI in the financial sector as early as October last year, demonstrating the government's proactive attitude towards AI development.
Risk Warning
Cryptocurrency investment is highly risky, and its price may fluctuate dramatically, potentially resulting in the loss of your entire principal. Please carefully evaluate the risks.
