Hong Kong Official Invites Coinbase Despite SEC Investigation, June 11
Hong Kong’s Legislative Council member Johnny Ng has expressed his support for the crypto industry in Hong Kong and has invited Coinbase and other crypto exchanges to establish operations in the region. In a tweet, Ng acknowledged the important role that crypto trading operators like Coinbase play in the industry and offered his assistance to help them set up. He also hinted at potential stock listing opportunities, which could further bolster the industry’s growth in HK.
This move by Ng comes at a time when major players like Binance and Coinbase are facing lawsuits from the SEC. Despite this, Hong Kong has taken a progressive stance towards cryptocurrencies and has actively overseen crypto assets through regulation. In fact, the Financial Secretary of Hong Kong, Paul Chan, declared the government’s dedication to establishing a strong ecosystem for crypto and fintech in January 2023. Since then, Hong Kong has been working on formulating regulations and implementing compliance measures to nurture the expansion of the cryptocurrency industry. HKMA revealed its intentions to establish the groundwork for the introduction of a retail Central Bank Digital Currency (CBDC).
Source
https://t.me/DeFi_Ethereum
