A start-up accelerator co-founded by Hong Kong legislative council member Jonny Ng Kit-Chong wants to attract 1,000 Web3 businesses to set up shop in the city-state over the next three years. Ng Kit-Chong is a member of the legislative council for the election committee constituency and has been in office since January this year. The engineer and politician have his finger in a lot of pots as he has declared owning shares in roughly 40 different companies. “We hope to help bring good companies and talent back to Hong Kong in the post-pandemic era,” Wong said. In late October, Elizabeth Wong, the head of the fintech unit at the Securities and Futures Commission (SFC) of Hong Kong, announced a host of progressive regulatory crypto proposals, including the legalization of virtual asset trading. Source: Cointelegraph