Coinbase Receives Invite from Hong Kong Legislator Amidst Regulatory Challenges

Vignesh Karunanidhi
Coinbase Granted Approval for Retail Perpetual Futures Trading
Source: InsideBitcoins

Coinbase has recently come under the scrutiny of the SEC following a recent lawsuit. The exchange is one of the largest players in the US. Following the lawsuit by the SEC against two of the largest and most prominent crypto exchanges around the globe, there has definitely been a rise in FUD.

While the US still has ambiguity on what to do with cryptocurrencies, certain regions are clear on what they want to do with them. According to the latest tweets, a Hong Kong legislator has invited Coinbase and other exchanges to mark their presence in the region.

Coinbase receives warm welcome in HK

Details from Johnny Ng’s tweet show the invitation offered to virtual asset trading operators, including Coinbase and others, for them to establish their operations and further development in the region.

Furthermore, Hong Kong is actively positioning itself as a potential hub for the cryptocurrency industry. In a recent development, the region has officially acknowledged cryptocurrencies as a form of property.

Also read: Solana Foundation Stands Firm Against SEC’s Claim of SOL as a Security

The invitation from Hong Kong comes at a time when there is regulatory uncertainty regarding cryptocurrencies in the US. While the US is trying to push out the crypto industry in the country, forward-thinking nations are embracing it.