Emily Parker, former executive director of global strategy at CoinDesk, said at the event in Hong Kong that crypto-friendly does not mean crypto-easy, because crypto-friendly jurisdictions have strict requirements for sustainable development. She believes that Hong Kong has comprehensive virtual asset regulation and exchange licenses that allow retail trading, and is moving towards becoming a digital asset center. Emily Parker pointed out that Hong Kong has comprehensive regulations and direct rules, while virtual asset exchanges operate under strict regulations, including the requirement to reach 98% cold wallets and comply with strict regulations. It is also noted that Hong Kong is actively developing the third generation of the Internet (Web 3.0), providing a new sandbox for stablecoin issuers and offering spot exchange-traded funds (ETFs) for cryptocurrencies Bitcoin (BTC) and Ethereum (ETH).