On March 3, according to a report by Hong Kong media Commercial Radio, Hong Kong Financial Secretary Paul Chan was asked at a budget forum that US President Trump planned to host a cryptocurrency summit or include five cryptocurrencies in the U.S. strategic reserve. Paul Chan responded that virtual assets may bring risks to the financial system. Hong Kong was one of the first jurisdictions to announce policies on virtual assets. Some industry insiders welcomed the inclusion of virtual assets into an appropriate regulatory framework. They believe that Hong Kong's licensing as an international financial center will make operations legal and be good for marketing. At the same time, they also emphasize that Hong Kong is never afraid of competition, which can bring a good business environment.