Hong Kong has always been more open-minded and flexible than Mainland China. These initiatives are no doubt a welcomed development in the crypto space but they are just proposals or bills. These bills have to go through a lot of legislative processes. And sometimes the bill initiators have to do a lot of lobbying for these bills to see the light of day.
 
Politically Hong Kong is going through a lot of intimidation by mainland China. But Joe Biden's acceptance that the US and its Allies would send troops to defend Hong Kong if China invades would always be a deterrent to the preparing invader. It might put Hong Kong in a better position than Ukraine.