Hong Kong's Web3 development has made important progress: HSBC lifted the ban on cryptocurrency transactions. As the first bank in Hong Kong to allow customers to buy and sell cryptocurrency exchange-traded funds, HSBC’s decision allows Hong Kong users to freely trade crypto ETFs at the bank, bringing more legitimacy and recognition to the cryptocurrency industry while promoting global This move will play an important role in promoting the prosperity and development of Hong Kong's Web3 ecosystem due to the increased recognition of cryptocurrency within the country.