National Committee member of the Chinese People's Political Consultative Conference and Hong Kong Legislative Council member Wu Jiezhuang stated that Hong Kong's latest declaration clearly replaces the term virtual asset with digital asset; it clarifies the division of labor, with the Securities and Futures Commission leading the distribution of licenses for digital asset trading and custody services, while the Monetary Authority regulates related banking activities to avoid overlapping functions; it demonstrates the government's friendliness and recognition of digital assets; reduces operational costs for the industry and is committed to improving market Liquidity; Hong Kong has a great opportunity in 3-5.