According to Golden Finance, Hong Kong Legislative Council member Wu Jiezhuang posted a social media article saying that the US AI and cryptocurrency "tsar" David Sacks and Congress representatives held a press conference on February 4 to announce the formation of a working group for the two houses to formulate cryptocurrency regulation regulations. Wu Jiezhuang pointed out that although Hong Kong has established a three-layer regulatory structure similar to the United States, including the Third Generation Internet Development Task Force, the Legislative Council Web3, Virtual Asset Development Subcommittee, and the HKMA Stablecoin Regulatory Sandbox, it still needs to accelerate its development pace. Essence He put forward five major suggestions: First, accelerate the study of the feasibility of Bitcoin as Hong Kong's strategic reserves; second, expand the authority of stablecoin companies that have been approved in the sandbox and accelerate the implementation and application; third, strive for national support to establish stablecoin applications in the Greater Bay Area The pilot; the fourth is to relax the trading variety of licensed virtual asset trading platforms; the fifth is to set up the digital asset office to promote the development of AI and virtual assets. Wu Jiezhuang revealed that he had been invited to participate in the Bitcoin U.S. Summit held in Las Vegas in May, which will promote cooperation in the Sino -US cryptocurrency industry.