PANews reported on December 20 that according to Sing Tao Daily, people in the virtual asset industry in Hong Kong said that the development of virtual assets in Hong Kong is in its early stages and they are not worried about market competition. Instead, they believe that as more participants join in, the market will grow. According to HashKey estimates, there are only about 100,000 active cryptocurrency users in Hong Kong, and the market size is relatively small. Moreover, most of the market has been occupied by existing licensed platforms. New entrants need to face high operating costs and face the problem of difficulty in seizing the market. It is expected that the competition in the virtual asset industry in Hong Kong will be less likely to intensify in the future.