Qiu Dagen: Hong Kong Needs a Stable, Transparent, and Continuous Development Environment and Regulatory Policies

At the Golden Finance event on April 20, Hong Kong Legislative Council member Qiu Dagen delivered a keynote speech at the 2026 Hong Kong Web3 Carnival. He emphasized that regulatory clarity is the primary condition for industry development. Comparing the regulatory paths of the United States and Hong Kong, he pointed out that while the U.S. has introduced important documents such as the Clarity Act, the Genius Act, and joint statements from the SEC and CFTC, political circumstances could lead to legislative interruptions or even reversals. In contrast, Hong Kong offers a stable, transparent, and continuous development environment in terms of product classification, legislation, and infrastructure, which are essential for the development of Web3 in Hong Kong. Regarding the potential threat of quantum computing to the cryptocurrency industry, he stated that at least five more years are needed, but the industry should prepare in advance at the cryptographic level. Finally, he stressed that Hong Kong needs more technology developers and should promote cross-jurisdictional connectivity to create a positive feedback loop for product issuance, investor participation, and innovator entry.