Hong Kong Sends Strong Web3 Signal: Stablecoin Licenses to be Issued Next Month, Global Crypto Companies Accelerate Expansion
February 11 News, Hong Kong continues to strengthen its position as an Asian hub for digital assets and Web3 innovation. Hong Kong Special Administrative Region Chief Executive John Lee delivered a video speech at the CoinDesk Consensus Hong Kong Conference, stating that the SAR government will support the development of the local digital asset ecosystem in the long term and provide a clear and stable regulatory framework to offer a predictable business environment for global crypto companies.
John Lee pointed out that over the past few years, Hong Kong has systematically established a regulatory system for digital assets, aiming to promote the expansion of the Web3 industry based on compliance, transparency, and sustainability. He emphasized that Hong Kong also connects Mainland China and international financial markets, possessing a dual advantage under the “One Country, Two Systems” framework that is difficult for other cities to replicate. This gives Hong Kong a unique competitive edge in virtual asset innovation, capital flow, and institutional stability.
On the policy front, Hong Kong released a regulatory policy statement for digital assets last year and continues to improve the stablecoin regulatory mechanism. John Lee confirmed that the Hong Kong Monetary Authority is about to issue stablecoin issuance licenses to compliant institutions, with the first licenses expected to be granted as early as next month. This move is seen as an important step for Hong Kong to advance a compliant stablecoin system and serve cross-border payments and on-chain finance.
Meanwhile, the Securities and Futures Commission of Hong Kong is also accelerating the optimization of virtual asset market rules, focusing on enhancing market liquidity and product diversity to attract more international institutions and Web3 projects to establish a presence in Hong Kong.
John Lee stated that Hong Kong will continue to be at the forefront of fintech and blockchain innovation, welcoming global digital asset companies, Web3 developers, and financial institutions to participate in building the local ecosystem and jointly shaping a more open and efficient digital financial system.
Against the backdrop of clearer global regulation and rising demand for stablecoins and on-chain finance, Hong Kong is establishing its strategic position as an Asian Web3 and compliant crypto asset hub through a dual drive of制度 and capital.
Related Articles
Fed Board Member: Cryptocurrency Market Volatility Is High, Traditional Financial Risks Are More Significantly Amplified in Pullbacks
Billionaire Avoids Taxes by Fleeing to Florida! Miami Mansion Listed at 700 BTC Highlights Real Estate Shift
Cryptocurrency Political Action Committee Fairshake donates $50 million to U.S. Senate candidates
IMF Warns: Stablecoins Could Shake Emerging Markets