I just saw Shen speak at a crypto forum in Hong Kong, and it was quite interesting. When he discussed the RWA (Real-World Asset) track, he emphasized a point that many people tend to overlook: that the legal framework is actually the foundation of innovation, not a stumbling block.

I think this perspective is worth deep reflection. Shen mentioned that the core of Web4.0 is not just technological breakthroughs but also the reconstruction of institutional and regulatory frameworks. In other words, without clear legal protections, even the most advanced technology will be difficult to implement effectively. He believes compliance should be regarded as a prerequisite for digital financial innovation, a point that is actually underestimated in industry discussions.

Hong Kong’s common law system has indeed been attracting global capital and institutional attention in recent years. Shen emphasized that the legal "certainty" provided by Hong Kong is crucial for the development of digital assets, and I agree with that. From an investor’s perspective, a clear legal environment can indeed reduce perceived risks and attract more institutional-level participants.

Interestingly, Shen also mentioned that project teams should integrate legal frameworks with technical design from the early stages. This isn’t about being constrained by regulation but considering compliance during the design phase, which can actually help avoid many problems later on. I think this is a wake-up call for many projects eager to launch quickly.

Overall, Shen remains optimistic about Hong Kong’s prospects of becoming a global standard-setter in the RWA field. His logic is: as long as regulation and innovation can find a healthy way to interact, Hong Kong has every chance to lead in this new track. I believe this judgment is worth paying attention to.