According to Sing Tao Daily, HT Legislative Council member Wu Jiazhuang stated, "Hong Kong is actively attracting foreign investment, including capital from mainland China, but in fact, many foreign friends have a very shallow understanding of Hong Kong's system, and even harbor many misunderstandings. I believe this is an issue that must be faced directly. The FDT incident has international influence, and the authorities must quickly review different regulatory systems to respond to society. Since there is currently no custodian regulatory system, Web3 companies often use trust companies as a basis to help third-party asset custody. If this is done properly, there is no problem, but I am concerned that those with ill intentions might exploit this gap for illegal activities, which could weaken international confidence in Hong Kong. I suggest that the authorities should do more promotional education and examine whether there is room for optimization."
Wu Jiezhuang: The Hong Kong authorities must review the different regulatory systems as soon as possible to respond to social
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