🇭🇰 Hong Kong's virtual banks are at a crossroads! They currently account for only 0.3% of retail banking assets. HK legislator Johnny Ng Kit-chong believes they can do more for Web3. 🌐

🛑 Big challenge: Opening an account for a company that wants to participate in crypto, NFT, blockchain is very difficult. 40% of companies have difficulty, many businesses have moved to other areas.

💪 Despite the difficulties, Ng is still optimistic about the great potential if there is a clear plan from the government for Web3. Mox Bank has launched a crypto ETF, expanding digital investment.

💬 Ng proposed integrating BTC into HK's financial reserves, emphasizing BTC as "digital gold" that can fight inflation.

What do you think about the future of crypto in HK? Comment! ⬇️