Hong Kong politician extends invitation to Coinbase to operate in the SAR

Despite the recent SEC lawsuit against Coinbase, Hong Kong Legislative Council member Johnny Ng has invited the company and other global virtual asset trading operators to establish operations in Hong Kong. This invitation highlights Hong Kong’s supportive environment and progressive stance on digital currencies. The region recently lifted its ban on retail trading of digital assets and has actively encouraged crypto exchanges to obtain licenses. The Hong Kong Securities and Futures Commission (SFC) has introduced comprehensive guidelines for exchanges, prompting leading firms to express their intentions to apply for licenses in Hong Kong. Ng expressed support and assistance on Twitter, suggesting potential stock listing opportunities for Coinbase. This invitation comes at a time when the United States is cracking down on cryptocurrencies, while China is embracing digital asset development. The initiatives in Hong Kong and the invitation extended by Ng demonstrate a commitment to fostering an environment that supports the growth of the cryptocurrency sector while complying with regulatory obligations.

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