Hong Kong Introduces New Personnel to Internet Governance Committee
In a strategic move to position itself as a leader in the digital asset sector, the Hong Kong SAR government has appointed 20 industry experts to the Third Generation Internet Development Task Force, effective July 1, 2025. These experts play a crucial role in shaping digital asset policy and strengthening Hong Kong's position as a global digital asset hub.
The task force's goal is to drive digital asset policy and boost Hong Kong's digital asset development strategy. The appointed members, including leaders and professionals across digital assets, technology, finance, legal, and academic sectors, will provide innovative and pragmatic advice on the development potential and strategic direction of Hong Kong in Web3 and third-generation internet technologies.
One such expert is Alessio Quaglini, CEO of digital asset custodian Hex Trust. With over 15 years of experience blending traditional finance and digital assets, Quaglini brings valuable insights to the table. Under his leadership, Hex Trust has obtained licenses across major financial centers and contributes to policy discussions on the convergence of traditional finance with Web3 technologies.
The task force, chaired by Hong Kong's Financial Secretary, combines government officials with these industry experts to deliver a coherent, forward-looking Web3 strategy for Hong Kong. The appointed members, such as Cai Wensheng and Dr. Xiao Feng, are expected to support the government's recent Digital Asset Development Policy Declaration 2.0 by suggesting actionable recommendations that promote the sustainable and responsible growth of Hong Kong’s digital asset ecosystem.
This move is expected to enhance Hong Kong’s competitiveness globally by fostering an environment conducive to digital asset innovation, regulation, and institutional development. The experts act as a bridge between government policy and industry needs, helping to cultivate a robust, innovative, and internationally competitive digital asset environment in Hong Kong.
John Kojo Kumi, a cryptocurrency researcher and writer specializing in emerging startups, tokenomics, and market dynamics within the blockchain ecosystem, is also providing in-depth coverage of decentralized finance (DeFi), NFTs, and Web3 innovations. With a background in content strategy, SEO optimization, and technical research, Kojo Kumi aims to equip readers with the knowledge to navigate digital assets and decentralized technologies.
This strategic appointment and the subsequent work of the task force are aligned with the Hong Kong Government's 2023-24 Budget, which initially marked its Web3 regulatory expansion phase. The goal is to transform Hong Kong into a global digital asset hub, leveraging its existing strengths in finance, technology, and governance.
- Alessio Quaglini, a leader in the digital asset sector, brings valuable insights to the Third Generation Internet Development Task Force, having obtained licenses across major financial centers and contributing to policy discussions on the convergence of traditional finance with Web3 technologies.
- Cryptocurrency researcher and writer John Kojo Kumi provides in-depth coverage of decentralized finance (DeFi), NFTs, and Web3 innovations, aiming to equip readers with the knowledge to navigate digital assets and decentralized technologies.
- Enhancing Hong Kong’s competitiveness globally, the Third Generation Internet Development Task Force, chaired by Hong Kong’s Financial Secretary, is working on a coherent, forward-looking Web3 strategy, aligning with the Hong Kong Government's 2023-24 Budget, which aims to transform Hong Kong into a global digital asset hub.
- The task force members, including experts in technology, finance, legal, and academic sectors, will propose actionable recommendations that promote the sustainable and responsible growth of Hong Kong’s digital asset ecosystem, adhering to cryptocurrency regulations and fostering an environment conducive to digital asset innovation and institutional development.
