Joseph Chan, Under Secretary for Financial Services and the Treasury of Hong Kong, declared at the Web3 Consensus conference that digital assets are set to remain a long-term asset class. The Hong Kong government is committed to fostering a sustainable and responsible development environment to support the growth of digital asset businesses. Chan highlighted Hong Kong's strengths as an international financial center, emphasizing its ability to provide enterprises with access to investors, clients, local partners, and institutional support. The city aims to establish itself as a global hub for digital asset innovation, integrating Web3 solutions with traditional financial systems.