Wu Jiezhuang: Virtual banks should increase diversified services, and Hong Kong should establish a virtual asset bank as soon as possible

Hong Kong Legislative Council Member Wu Chi-wai posted on social media stating, "The Hong Kong Monetary Authority recently published a report on virtual banks. I appreciate the Hong Kong SAR Government's support for the banking industry's service upgrade and the development of virtual banks in the past few years. However, my team conducted an investigation into Web3 companies' opinions on Hong Kong's banking services, which showed that Web3 companies are facing difficulties in opening accounts, leading to ineffective business development. Therefore, I proposed the following at today's press conference:1. Virtual banks should increase diversified services and develop in a differentiated manner from traditional banks.2. Hong Kong should establish a virtual asset/digital asset bank as soon as possible or upgrade virtual banks to manage virtual assets to cooperate with the SAR Government's Web3 development.3. Hong Kong should accelerate the development of the Web3 ecosystem. Currently, virtual asset policies are already a global government discussion focus, and we should strive to become the Web3 center of Hong Kong and promote the development of the entire chain and ecosystem as soon as possible."