PANews reported on August 9 that Hong Kong Legislative Council member Wu Jiezhuang said at a press conference that Web3 companies have difficulties opening bank accounts in Hong Kong, which affects business development. He suggested that virtual banks should increase diversified services and develop in a staggered manner with traditional banks. He also suggested that Hong Kong should set up or upgrade virtual banks as soon as possible to manage virtual assets to support the rapid development of the Web3 ecosystem and promote Hong Kong to become a global Web3 center.