Wu Jiezhuang, co-founder of incubator firm G-Rocket and a member of Hong Kong's Legislative Council, has highlighted a shortage of Web3 talent in the region. Speaking to Chinese-language crypto publication Chain Catcher, Jiezhuang discussed the impact of the Virtual Assets Service Provider licensing system, the government's support for Web3 and developments at G-Rocket.

He said Hong Kong's policies towards the industry had always been relatively open, and that entrepreneurs could benefit from funding, marketing and intellectual property protection. However, he warned that a shortfall of people with "international vision, familiarity with laws and regulations, and understanding of Web3" could hamper the growth of the sector.