Hong Kong lawmaker proposes global digital-asset hub by 2032

Hong Kong lawmaker Duncan Chiu, who represents the technology and innovation sector in the Legislative Council, has proposed developing Hong Kong into an international digital-asset hub by 2032, Hong Kong Commercial Daily reported. The proposal includes creating early-stage investment channels for Web3 finance and a Hong Kong-style "Web3 Pink Sheets" platform for over-the-counter fundraising, while also promoting real-world asset tokenization and tokenized stocks. Chiu also proposed setting up an independent digital-asset division within Hong Kong’s Securities and Futures Commission, expanding use cases for crypto ETFs and Hong Kong dollar stablecoins, and building an integrated regulatory and compliance infrastructure.