During his keynote speech at Consensus Hong Kong 2025, Financial Secretary Paul Chan announced ambitious plans for the city to become a leading blockchain hub and drive Web3 innovation.

Chan emphasized Hong Kong's commitment to remaining an open market for cryptocurrencies, reinforcing its position as a global hub for digital assets.

He highlighted the exciting convergence of artificial intelligence (AI) and blockchain, which is anticipated to create new applications and opportunities within the Web3 ecosystem.

Additionally, the Hong Kong government is investing in infrastructure and talent development to bolster the digital asset market.

To support this vision, the government is focused on establishing a robust regulatory environment that encourages AI-blockchain convergence across various sectors.

Ongoing large-scale investments in Web3 infrastructure and talent development are intended to nurture the next generation of blockchain experts.

Investors are advised to exercise caution in the volatile crypto market, emphasizing the importance of thorough research before making investment decisions.

The Cyberport Web3 Hub has seen significant growth, now hosting over 270 blockchain firms, with more than 120 new additions in the past 17 months.

As part of its pro-crypto stance, Hong Kong plans to exempt certain entities from crypto gains taxation, further encouraging investment in the sector.

Chan also stressed the importance of sustainable development and a balanced regulatory approach to foster innovation in both traditional and digital finance.

As Hong Kong navigates the opportunities and challenges presented by the convergence of AI and blockchain, clear policies for AI use in financial services are being developed.

Since launching a licensing drive in mid-2024, the government has issued nine crypto licenses, aiming to create a transparent legal framework for digital assets.