CDS Crypto News Despite the SEC Lawsuit, a Hong Kong Official Invite Coinbase to the Region
Crypto News

Despite the SEC Lawsuit, a Hong Kong Official Invite Coinbase to the Region

Despite the SEC lawsuit, Hong Kong's attitude towards Coinbase is positive.

788
Despite the SEC Lawsuit, a Hong Kong Official Invite Coinbase to the Region

Johnny Ng, a member of Hong Kong’s Legislative Council, has stated that he supports the cryptocurrency market in Hong Kong. To establish the business in the area, he has extended invitations to Coinbase and other cryptocurrency exchanges.

Despite the SEC Lawsuit, a Hong Kong Official Invite Coinbase to the Region

Ng highlighted the significant role that cryptocurrency trading companies like Coinbase played in the sector in a tweet and promised to help them get started. He also made hints about possible stock listing options, which would help the industry in Hong Kong continue to expand.

Hong Kong’s Position on Cryptocurrencies

This action by Ng comes as the SEC is suing prominent companies like Binance and Coinbase. Despite this, Hong Kong has adopted a proactive approach to cryptocurrencies and aggressively regulated crypto assets.

Paul Chan, Hong Kong’s Financial Secretary, stated in January 2023 that the government was committed to building a strong ecosystem for cryptocurrencies and fintech. Since then, Hong Kong has been focusing on developing rules and putting them into action to support the growth of the cryptocurrency sector.

Ng’s invitation demonstrates Hong Kong’s commitment to developing into a digital hub for the cryptocurrency industry. Among the first cryptocurrency exchanges to apply for licenses as virtual asset service providers in the area were OKX and Huobi.

About Coinbase

In 2012, Brian Armstrong and Fred Ehrsam launched the business. An American publicly traded corporation, Coinbase, runs a platform for trading cryptocurrencies. All employees at distributed firm Coinbase work remotely. By trading volume, it is the biggest cryptocurrency exchange in the United States.

Written by
lectertodd

Lectertodd is 27 years old. She graduated from Çankaya University, Department of Psychology, in 2021. She actively works as a writer, translator, and editor for various websites. Moreover, she loves reading, researching, and learning new things.

1 Comment

Leave a Reply

Related Articles

Crypto News – MicroStrategy’s $42 Billion Bitcoin Bet: Risks and Rewards Ahead

MicroStrategy's ambitious plan to acquire an additional $42 billion in Bitcoin faces...

Bitcoin Price Soars 2.4% Amid Election Uncertainty, Ethereum Struggles

As the U.S. presidential election approaches, Bitcoin surges above $70,000, driven by...

Bold Economist Prediction: Bitcoin Price Stability Predicted as Analyst Sees 50% Chance Above $60K

Bold Economist Prediction: Bitcoin Price Stability Predicted as Analyst Sees 50% Chance...

5 November Major Crypto News: Dogecoin Surges Over 13%, Outperforming Major Cryptos Amid Election Buzz

5 November Major Crypto News: Dogecoin Surges Over 13%, Outperforming Major Cryptos...