Hong Kong reevaluates crypto trust rules amid Justin Sun’s First Digital Trust allegations
Hong Kong lawmaker Johnny Ng has vowed that authorities will act quickly if fraud allegations against First Digital Trust (FDT), the issuer of the FDUSD stablecoin, are confirmed.
In an April 3 post on X, Ng assured investors that the city’s crypto regulatory framework remains robust and committed to investor protection despite the recent high-profile controversy.
According to him:
“Hong Kong has a legal basis and a healthy environment for protecting international investors and the Web3 industry. I urge international investors and tech practitioners not to worry about a single incident and to feel assured in continuing to invest and develop in Hong Kong.”
His comments follow accusations by Tron founder Justin Sun, who claims FDT…
