Chen Haolian: Hong Kong welcomes Layer1 to establish a presence in the city and plans to study a DAO regulatory framework to address the legal status of foundations.

Foresight News on-site report: Hong Kong Special Administrative Region Secretary for Financial Services and the Treasury, Christopher Hui, responded to the question of “how to attract blockchain foundations and their technical teams to settle in Hong Kong” at Consensus 2026. He stated that the Hong Kong government is very welcoming of Layer 1 protocols establishing bases in the city, which will further strengthen Hong Kong’s position as a Web3 hub. He explained that the previous lack of foundations and teams setting up in Hong Kong was mainly due to pandemic-related restrictions. These obstacles have now been removed, and hundreds of Web3 companies are currently operating in Hong Kong.

Hui emphasized that the Hong Kong government will continue to strengthen its relationships with major blockchain protocol organizations and leverage existing pro-business policies to actively invite them to establish offices and deploy technical personnel in Hong Kong. Additionally, the discussion also mentioned the proposal to study a regulatory framework for DAOs (Decentralized Autonomous Organizations) to address the legal status issues of foundations that are not traditional companies, thereby better integrating digital assets with traditional finance.