Hong Kong lawmakers want to turn the special administrative region into a Web3 bridge

Legislator Ng, a representative of the technology sector at the Hong Kong Legislative Council, is one of the most active voices supporting Web3 and digital assets. He has contributed to advancing stablecoin legislation, licensing mechanisms for crypto exchanges, and positioning Hong Kong as an early regulated crypto financial hub.

According to him, a bigger ambition is to make Hong Kong a bridge between East and West, as well as between traditional finance and the crypto ecosystem. The city’s advantages lie in its common law system, free capital flow, and a dense network of global financial institutions.

He believes that Hong Kong does not need to compete directly with tech hubs like Shenzhen but should connect international capital and legal frameworks with the technical and manufacturing capabilities from mainland China within the Greater Bay Area.

On the regulatory side, Hong Kong is expected to introduce additional regulations on digital asset custody and OTC trading this year, while also considering expanding trading limits for professional investors. He also sees potential for synergy between crypto and AI, with Hong Kong serving as an international collaboration platform thanks to its open environment and clear regulation.