Ye Zhiheng, Executive Director of the Intermediary Department of the Hong Kong Securities and Futures Commission responsible for virtual asset trading, said in an interview with Hong Kong media that the AUM of WA accounts for less than 1% of the global digital asset management scale, and the trading volume is even lower than 1%. Currently, the tokenized products of RWA in the market are mainly related to fixed income products (such as money market funds). If they are to be applied to securities trading and settlement, there is no advantage in terms of efficiency compared to traditional exchange trading and settlement systems due to the time delay of blockchain technology. It is difficult to cooperate with high-frequency trading and is temporarily not suitable for stock trading. Ye Zhiheng also revealed that the Intermediary Department of the Hong Kong Securities and Futures Commission has about 300 colleagues, with 50 of them highly involved in virtual asset regulatory matters, including licensing, AML, etc., and plans to hire external personnel to improve work efficiency.