John Lee Highlights Hong Kong's Role as a Global Web3 Hub at Consensus 2026

Speech by CE at Consensus Hong Kong 2026

Following is the video speech by the Chief Executive, Mr John Lee, at Consensus Hong Kong 2026 today (February 11):

The Chief Executive, Mr John Lee, Photo source: HKSAR Government Press Release

Mr Michael Lau (Chairman of Consensus), Mr Tom Farley (Chief Executive Officer of Bullish Group), Mr Jay Yarow (President of CoinDesk), industry leaders and innovators, distinguished guests, ladies and gentlemen,

Good morning, and welcome to Hong Kong. It is my pleasure to join you today at Consensus Hong Kong 2026.

This is a key platform that brings together Web3 leaders from around the world to discuss, and shape, the future of the Web3 ecosystem. I would like to begin by thanking CoinDesk for returning to Hong Kong, hosting this iconic conference once again after last year's success. Your choice underscores Hong Kong's distinct advantages. It also helps to show the world our growing prominence, as a global hub for Web3 and crypto innovation.

Hong Kong is the world's freest economy and one of its three major international financial centres. Under the unique "one country, two systems" principle, Hong Kong is the only city that converges both the China advantage and the global advantage. We have a long tradition of the rule of law, a judiciary that exercises its power independently, and a common law system that is similar to many financial hubs around the globe. Hong Kong has an open and transparent market, and we enjoy the free flow of capital and a low and simple tax regime.

What's more, Hong Kong's financial regulatory system is robust, and our financial market stands out for its deep liquidity, innovative products and world-class investor protection. As the only city in the world that counts as many as five universities in the global top 100, Hong Kong boasts a highly educated workforce, and a welcoming environment for global talent.

These, and many other advantages, have helped to make Hong Kong the world's number three in global competitiveness, and number four in the World Talent Ranking and World Digital Competitiveness Ranking.

With this unparalleled positioning, Hong Kong has consistently served as a platform that brings together international capital, talent and information, continuing to expand our global markets and reach.

The world of Web3 and digital assets carries with it vast potential. They help to realise more efficient financial transactions, at a lower cost and with more inclusive options. The HKSAR (Hong Kong Special Administrative Region) Government is committed to establishing Hong Kong as a global hub for innovation in digital asset. That's why over the past few years, Hong Kong has been actively building the regulatory framework to promote the steady, and sustainable, development of our Web3 ecosystem.

Last June, the HKSAR Government issued the Policy Statement 2.0 on the Development of Digital Assets in Hong Kong. It sets out a vision for a trusted and innovative digital asset ecosystem - one that prioritises risk management and investor protection, while delivering concrete benefits to the real economy and financial markets.

I'm pleased that a lot of our initiatives in the area are in good progress. One key initiative is our implementation of the Stablecoins Ordinance last August. This new law provides for a licensing regime for issuers of fiat-referenced stablecoins in Hong Kong. The Hong Kong Monetary Authority is actively processing licensing applications, and we believe the first batch of stablecoin issuer licences will be issued within next month.

Meanwhile, our Securities and Futures Commission announced last year the "ASPIRe" roadmap, its plan for regulating Hong Kong's virtual asset (VA) market. We have since implemented a series of measures to boost liquidity of the VA market, and expand VA product offerings and services. All for the purpose of facilitating the development of this vibrant area of growth.

Ladies and gentlemen, Hong Kong is in a strong position in promoting Web3 development. Hong Kong will continue to go all out to stay at the forefront of this pivotal shift in finance and technology. We welcome companies and institutions from around the world to join hands with us, and build a brighter digital future together.

On that note, I wish you all a fruitful conference these two days. Do remember to take some time to experience the life and culture of Hong Kong, Asia's world city. With the advent of the Lunar New Year, I wish you a healthy and prosperous Year of the Horse. Thank you.

Photo source: reference image

TD to implement special arrangements for licence renewals before and after Budget Day

The Transport Department (TD) said today (February 11) that to prevent members of the public from rushing to the Licensing Offices to submit renewal applications for expiring or expired vehicle and driving licences before Budget Day, the TD will implement the following arrangements:

All vehicle licences eligible for renewal on or before Budget Day (February 25), i.e. vehicles that are registered at the time of renewal and have licence expiry dates falling on or before June 24, may be renewed at the present rate (note) for four months or 12 months at any time up to and including June 24;

All Hong Kong full driving licences and driving instructor's licences eligible for renewal on or before Budget Day (February 25), i.e. those expiring on or before June 24 and those that have expired for less than three years at the time of renewal, may be renewed at the present rate at any time up to and including June 24; and

The above special arrangements only apply to renewal applications for vehicle licences, Hong Kong full driving licences and driving instructor's licences that meet the conditions above, but not other licensing services.

"Eligible licence holders do not need to rush to the Licensing Offices to submit renewal applications for their vehicle or driving licences on speculation that their fees may increase in the Budget. The special arrangements are not related to the content of the Budget, about which the TD has no information," a spokesman for the TD said.

Note: For electric private cars, the present rate refers to the licence fee structure and levels effective from November 1, 2025. Since the Government provides a four-month grace period fee arrangement for eligible vehicle owners, if their vehicle licences expire on or before February 28, 2026, they may be renewed on or before the licence expiry date at the old fee level in effect before November 1, 2025.

Source: AI-found images