The chairman of the Hong Kong Legislative Council, Web3 and Virtual Asset Development Forum Committee, Wu Jiezhuang, stated that the licensing requirements for virtual asset trading platforms in Hong Kong are very high. The withdrawal of applications is mainly due to financial issues, the maturity of the business, the investment in technology, and whether the choice of custodians is appropriate. Regarding how the Hong Kong virtual asset market can serve the needs of the country in the future, Wu Jiezhuang believes that the introduction of a 'Digital Link' can be studied, which would open a special channel to allow mainland investors to buy and sell digital assets recognized by Hong Kong, further enriching the connotation of connectivity between the mainland and Hong Kong, while also benefiting financial innovation and cultivating new productive forces.