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Hong Kong Politician Invites Coinbase and Other Crypto Trading Operators to Apply for Regulatory Licenses

Hong Kong Legislative Council member Johnny Ng has invited global virtual asset trading operators, including Coinbase, to apply for regulatory licenses in the region amid heightened regulatory scrutiny on the crypto market ecosystem in the United States.

This comes after the US SEC charged Coinbase with violating securities laws in the country, although it was informed about the same operations when it approved Coinbase's IPO in 2019. In contrast to the regulatory environment in the US, Hong Kong recently allowed retail investors to trade Bitcoin, Ethereum, and other cryptocurrencies, resulting in a rise in demand for some Chinese crypto coins.

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