According to ChainCatcher, the South China Morning Post wrote an article today titled "Cryptocurrency bear market is an ideal time for Hong Kong to put its regulatory stamp on virtual assets". The article pointed out that the Hong Kong Financial Services and the Treasury Bureau issued a policy statement on virtual assets a few days after Fintech Week, and the subsequent bankruptcy of FTX caused market turmoil. Some critics believe that the policy statement came too late. But if Hong Kong aims to become an international virtual asset center, it will be more powerful to show its strength and develop supervision in a chaotic bear market than in a bull market. This storm is a good stress test for the development structure of Hong Kong regulators, on which a sustainable and resilient international virtual asset center can be established. (Source link)