Hong Kong's fiscal budget has some major moves. Next month on the 25th, the SAR government will announce the budget for 2026/2027, with virtual assets and investor protection becoming key topics. The Hong Kong Securities and Futures Professionals Association recently stated that Hong Kong's regulatory infrastructure in the virtual assets sector has basically been completed, and now it's time to consider practical implementation. Specifically, the focus areas include three parts: first, speeding up the approval process for RWA products; second, attracting more international liquidity into the market; and third, connecting all links in the RWA ecosystem to form a complete industry chain. This indicates that Hong Kong's policy stance on virtual assets is shifting from "regulation" to "development."