Ashley Alder, CEO of the Hong Kong Securities and Futures Commission, said in an international interview that as the cryptocurrency system gradually develops to "a level we feel comfortable with," Hong Kong is "pleased to open up more channels to a wider range of investors." Meanwhile, Ravi Menon, governor of the Monetary Authority of Singapore, told Bloomberg that by next year, Singapore will become one of the strictest countries in regulating cryptocurrencies in terms of consumer protection, but also one of the most convenient countries in regulating tokenization. Citigroup estimates that by 2030, the tokenization market could expand to $5 trillion, representing digital forms of real-world assets such as bonds, real estate, and private equity.