In recent years, Hong Kong has actively promoted the development of Web3 and digital assets, and its layout in the Web3 ecosystem has attracted significant market attention.
“There are already committees internationally discussing the standards and classifications for the buying and selling of virtual currencies, and relevant policies will emerge soon. In terms of international finance, Hong Kong must take the lead in recognizing such products.” On May 18, at the 2025 Tsinghua Wudaokou Global Financial Forum, Hong Kong Legislative Council member (Technology and Innovation Sector) Qiu Dagen introduced the relevant situation regarding Hong Kong’s development of Web3.
He stated that there is a global competition in the institutionalization and standardization process of the virtual asset sector. In the future financial system, Hong Kong must not be absent. “We must be at the forefront because if we do not take the lead in financial innovation, it will affect the future locations for the issuance of financial products and will also impact our country’s financial status.”
Qiu Dagen pointed out that the development of Web3 in Hong Kong is not about buying and selling virtual assets (such as Bitcoin), but rather about the innovation and reform of the entire financial system.
“In the future, all financial products may be on the chain, and they may all be tokenized, and the Web3 we are talking about is actually the on-chain and tokenization of all other financial products.” Qiu Dagen emphasized that the opportunities in Hong Kong are not only some virtual products and virtual currencies that have been recognized at present, but also trillions of dollars of financial products in Hong Kong in the future will be on the chain and tokenized.
He introduced that Hong Kong has recently launched tokenized bonds, and after the emergence of stablecoins, banks will also invest in infrastructure, and Hong Kong will have some institutional promotion for the trading methods, regulatory methods, and risk standards of these digital and tokenized products. In the next one or two years, Hong Kong will improve some directional standards, trading principles, trading techniques, and trading techniques for professional investors, retail investors, and individual investors.
“Next year we will improve the laws in the Web3 field, and we will let everyone know that new financial products, tokenized products can be issued in Hong Kong.” Qiu Dagen expressed his belief that the digital asset industry will gradually standardize in the future.
(Source: Huaxia Times)
Source: Eastmoney
Author: Huaxia Times
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