as far as I know Hong Kong is very accepting of cryptocurrencies, the fact that they are even considering imposing stricter sanctions towards centralized exchanges to protect the common investor's safety and interests just goes to show how they see potential in this industry, when they can easily just outright ban the usage of cryptocurrencies in their country much like what China did. In that regard, I think you're mistaking Hong Kong for China which aren't so happy with cryptocurrencies in their country which is the reason why they banned its usage and mining since 2020. In any case, I think Hong Kong will be one of the biggest hubs of cryptocurrency in the future provided that their country follows through with their plans.