One year anniversary of Hong Kong's virtual asset policy, immense development potential for Web3 companies.

The Hong Kong Special Administrative Region government released a virtual asset policy declaration a year ago, and to date, it has issued two licenses for virtual asset exchanges. This initiative has attracted numerous Web3.0 companies to develop in Hong Kong. A partner from the venture capital department of a certain investment group's interview stated that the government has actively promoted industry development over the past year, maintaining a very open attitude and providing significant assistance in both policy formulation and practical implementation. He believes that recent individual incidents cannot affect Hong Kong's attractiveness to overseas Web3 companies, and Hong Kong still has immense potential.

However, the development of the Web3 industry in Hong Kong has not been smooth sailing. One of the main challenges is opening bank accounts. Due to traditional banks' generally cautious attitude towards this emerging industry, Web3 companies often find it difficult to open accounts smoothly. This partner pointed out that getting traditional banks to accept this industry requires a gradual approach, but he believes that "the opportunities outweigh the risks." He anticipates that in the next two to three years, the support system for Web3 companies in Hong Kong will become more complete, providing a better environment for these companies to develop their business in Hong Kong.