Would You like a feature Interview?
All Interviews are 100% FREE of Charge
Hong Kong legislators invite Coinbase and other cryptocurrency exchanges to establish operations in the region, facilitating a favorable environment for the industry to grow, due to its progressive stance on cryptocurrencies. .
Legislator Johnny Ng said on Twitter: express Support and provide assistance to cryptocurrency trading operators like Coinbase. He also hinted at a possible public listing. This is in the wake of recent SEC lawsuits against major companies such as Binance and Coinbase.
In contrast to the cautious stance of some Western countries on cryptocurrencies, Hong Kong has taken a contrasting approach of actively overseeing crypto assets through regulation. In January 2023, Hong Kong Finance Minister Paul Chan declared that the government would be committed to establishing a strong ecosystem for cryptocurrencies and fintech. Since then, Hong Kong has diligently developed regulations and implemented compliance measures to facilitate the expansion of the cryptocurrency industry.
I hereby invite all global crypto asset trading operators to welcome, including: @coinbase Coming to Hong Kong for official trading platform application and further development plans. Please feel free to contact us. I will be happy to help you. pic.twitter.com/bcIi1IjMlc
— Johnny Ng Wu Jie Zhuang (@Johnny_nkc) June 10, 2023
The Hong Kong Monetary Authority (HKMA) recently clearly Intention to establish the basis for the introduction of a Retail Central Bank Digital Currency (CBDC). The initiative, announced on June 9, aims to explore the benefits of CBDC as a means of payment for everyday transactions and to make it easier for customers to access cryptocurrency exchanges.
Moreover, the invitation by Legislative Councilor Johnny Ng demonstrates Hong Kong’s dedication to becoming a digital hub for the cryptocurrency industry. Notably, both OKX and Huobi compliance companies have already joined the effort and are now listed on the Hong Kong Stock Exchange.
Hong Kong’s positive approach to cryptocurrencies has attracted significant interest from prominent international tech companies. As evidence of that, in January the well-known South Korean tech giant Samsung made an announcement regarding the introduction of a Bitcoin futures active exchange-traded fund (ETF) on the Hong Kong Stock Exchange. The move exemplifies the growing awareness and engagement of influential industry players in Hong Kong’s cryptocurrency ecosystem.
Related: Hong Kong Regulatory Leaders Make Hong Kong a Major Cryptocurrency Hub
Additionally, in mid-February, reports surfaced indicating that Chinese authorities were giving strategic approval to Hong Kong’s efforts to promote cryptocurrencies. This recognition from the Chinese authorities further highlights the importance of Hong Kong’s efforts in the crypto space and its potential impact on the broader digital currency landscape.
magazine: Hong Kong Crypto Frenzy, DeFi Tokens Soar 550%, NBA China NFT