Hong Kong SFC's Liang Fengyi Outlines Digital Asset Industry's Path Forward Amid Financial Transformation

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Citing Jinse, on December 3, 2025, Hong Kong Securities and Futures Commission (SFC) Chief Executive Liang Fengyi delivered a keynote speech at the Fourth ASEAN Plus China, Japan, and Korea Economic Cooperation and Financial Stability Forum. She outlined the deep transformation in global financial markets driven by four key forces: the rise of private markets, technological disruption, the growth of digital assets and DLT, and the restructuring of geopolitical and economic ties. Liang emphasized the need for adaptive regulation, enhanced risk governance, and cross-border collaboration to support innovation while safeguarding stability. She also highlighted the regulatory roadmap for digital assets in Hong Kong, including the implementation of stablecoin rules and the development of a secure digital asset platform. The speech provided a strategic framework for the digital asset industry to innovate responsibly amid increasing complexity and uncertainty.

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