Hong Kong lawmaker pushes city’s role as a Web3 bridge

Hong Kong lawmaker Ng, who represents the technology sector in the Legislative Council, has become one of the city’s most vocal supporters of Web3 and digital assets. He has helped advance stablecoin legislation, backed crypto exchange licensing and positioned Hong Kong as an early hub for regulated crypto finance.

Ng’s broader vision is to make Hong Kong a bridge — between East and West, and between traditional finance and crypto-native innovation. He argues the city’s strengths lie in its common law system, free capital flows and deep concentration of global financial institutions.

Rather than competing with mainland tech centers like Shenzhen, Ng believes Hong Kong should connect international capital and legal infrastructure with the mainland’s engineering talent and manufacturing scale within the Greater Bay Area.

On the regulatory front, he said new rules covering digital asset custody and over-the-counter (OTC) trading are expected this year, along with possible changes to allow higher-volume trading for professional investors. Ng also sees growing convergence between crypto and artificial intelligence, with Hong Kong well placed to support cross-border collaboration thanks to its open and well-regulated environment.