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Hong Kong Legislator Proposes Strengthening Digital Asset Hub via DAO, Smart Contract, and DeFi Regulations

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Hong Kong Legislative Council member Ng Ka-chor proposed reinforcing digital asset regulation to boost the city’s position as a global hub. He highlighted DAO governance, smart contract enforceability, and DeFi oversight as key areas. In November 2024, Hong Kong became the first jurisdiction to rule on a DAO case. Ng stressed the need for legal clarity to attract liquidity and crypto markets activity. He also called for emergency response protocols and international cooperation to address DeFi risks under the "same business, same rules" principle.
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