Chen Maobo responds to Trump's establishment of a cryptocurrency strategic reserve: Hong Kong has never been afraid of competition

ChainCatcher news, Hong Kong Financial Secretary Paul Chan was asked at a budget forum about U.S. President Trump's plan to host a cryptocurrency summit or the potential inclusion of five cryptocurrencies in the U.S. strategic reserve. Chan responded that virtual assets may pose risks to the financial system. Hong Kong is one of the first jurisdictions to announce policies regarding virtual assets. Industry professionals welcome the inclusion of virtual assets in an appropriate regulatory framework, believing that Hong Kong's status as an international financial center provides legitimacy to operations, which is beneficial for marketing. He also emphasized that Hong Kong is never afraid of competition, as competition can lead to a favorable business environment.