Wu Jiezhuang, Chairman of the Hong Kong Legislative Council, Web3 and the Virtual Asset Development Forum Committee, stated that the requirements for virtual asset trading platform licenses in Hong Kong are very high. Withdrawal of applications is mainly due to issues such as company finances, operational maturity, investment in technology, and whether the storage personnel are suitable. Regarding how Hong Kong's virtual asset market can serve the country's needs in the future, Wu Jiezhuang believes that it is possible to study the introduction of "digital channels," which allows mainland investors to buy and sell Hong Kong-approved digital assets, further enriching the connectivity between the mainland and Hong Kong, and also benefiting financial innovation and cultivating new productive forces.