The establishment ceremony of the Digital Asset Alliance was held at the Hong Kong Legislative Council, with HashKey Group as the sole representative of virtual asset institutions. The Democratic Alliance for the Betterment and Progress of Hong Kong (DAB), China Merchants Financial Holdings, Hong Kong Web3.0 Association, Faculty of Business and Economics of the University of Hong Kong, HSUHK Institute of Digital Finance, Hong Kong Digital Asset Association, and HashKey Group are the co-founders. The creation of this alliance aims to bring together various forces to provide policy recommendations for the development of digital finance in Hong Kong, and to jointly promote the development of digital finance through collaboration between government, industry, and academia.