[Qiu Dagen: Hong Kong Needs a Stable, Transparent, and Continuous Development Environment and Regulatory Policies] Hong Kong Legislative Council member Qiu Dagen delivered a keynote speech at the 2026 Hong Kong Web3 Carnival this year. He believes that regulatory clarity is the primary condition for industry development. Comparing the regulatory paths of the United States and Hong Kong, he pointed out that while the U.S. has introduced important documents such as the Clarity Act, Genius Act, and joint statements from the SEC and CFTC, political circumstances may lead to legislative interruptions or even reversals. In contrast, Hong Kong provides a stable, transparent, and continuous development environment in terms of product classification, legislation, and infrastructure, which are all essential for the development of Web3 in Hong Kong. Regarding the potential threat of quantum computing to the crypto industry, he stated that it would take at least another five years, but the industry should proactively prepare at the cryptographic level. Finally, he emphasized that Hong Kong needs more technology developers and should promote cross-jurisdictional connectivity to create a positive flywheel for product issuance, investor participation, and innovator entry.