CoinMeta live report, on February 11th, Hong Kong Secretary for Financial Services and the Treasury, Chan Ho Lam, stated at the CoinDesk 2026 Hong Kong Consensus Conference that in the past, Hong Kong was already a global financial center, but with the development of Web3, many traditional services and products will be replaced. At the same time, many new products and services will emerge. Without advancing the development of Web3, Hong Kong will be unable to secure new business and may even face the risk of being left behind.