PANews reported on March 3 that according to Hong Kong media Commercial Radio, Hong Kong Financial Secretary Paul Chan was asked at a budget forum whether US President Trump would host a cryptocurrency summit or include five cryptocurrencies in the US strategic reserve. In response, Chan said that virtual assets may bring risks to the financial system. Hong Kong is one of the first jurisdictions to announce policies on virtual assets. Some industry insiders welcomed the inclusion of virtual assets in an appropriate regulatory framework. They believe that Hong Kong, as an international financial center, grants licenses to make operations legal and good for marketing. They also emphasized that Hong Kong is never afraid of competition and that competition can bring a good business environment.