The Consensus conference, held in Hong Kong for the second consecutive year, is projected to generate over HK$300 million in economic benefits, according to Deputy Secretary for Financial Services and the Treasury, Raymond Chan. The event is expected to draw 12,000 to 15,000 attendees, with approximately 75% coming from outside Hong Kong. Chan highlighted that the conference's return underscores Hong Kong's leadership in the Web3 sector in Asia. Hong Kong is currently home to hundreds of Web3 companies and 11 licensed virtual asset trading platforms. The Hong Kong Monetary Authority is in the process of reviewing stablecoin license applications, with the first approvals anticipated this quarter. Additionally, regulatory proposals for digital asset service providers are set to be presented to the Legislative Council this summer.