Yue Weiman, CEO of the Hong Kong Monetary Authority, said Hong Kong supervision will be strict. Yu said Hong Kong’s cryptocurrency guardrails have been very tight over the past few years. They have now reduced it to "reasonable and sustainable levels" but they will not allow any FTX type incidents to happen again in the city. In addition to the licensing of virtual asset platforms, a compulsory licensing system for stablecoins will be launched from 2023 to 2024.

Additionally, Hong Kong will implement a new licensing regime for virtual asset service providers starting June 1, with plans to allow retail investors to trade major tokens such as BTC and ETH.

I just saw it. I hope it’s true.