### In the midst of heightened regulatory scrutiny on the crypto industry in the United States, Hong Kong emerges as an inviting destination for global virtual asset trading operators. Legislative Council member Johnny Ng has extended an open invitation to prominent exchanges, including Coinbase, to establish operations in Hong Kong. 

<blockquote className="twitter-tweet"><p lang="en" dir="ltr">I hereby offer an invitation to welcome all global virtual asset trading operators including <a href="https://twitter.com/coinbase?ref_src=twsrc%5Etfw">@coinbase</a> to come to HK for application of official trading platforms and further development plans. Please feel free to approach me and I am happy to provide any assistance. <a href="https://t.co/bcIi1IjMlc">pic.twitter.com/bcIi1IjMlc</a></p>— Johnny Ng 吴杰庄 (@Johnny_nkc) <a href="https://twitter.com/Johnny_nkc/status/1667499874521350144?ref_src=twsrc%5Etfw">June 10, 2023</a></blockquote> 



While the United States Securities and Exchange Commission (SEC) targets Coinbase and Binance with charges of violating securities laws, Hong Kong has embraced a proactive approach, allowing retail investors to trade Bitcoin, Ethereum, and other cryptocurrencies. This favorable regulatory environment has attracted interest from international technology companies, with Hong Kong positioning itself as a digital hub for the crypto industry.



The invitation underscores Hong Kong's dedication to becoming a thriving crypto ecosystem. The region's government, led by Financial Secretary Paul Chan, has actively formulated regulations and implemented compliance measures to support the expansion of the cryptocurrency industry. The Hong Kong Monetary Authority (HKMA) has even announced plans to establish a retail central bank digital currency (CBDC), further enhancing customer access to cryptocurrency exchanges.


Hong Kong's proactive approach, combined with its established financial infrastructure and global connectivity, makes it an appealing choice for crypto companies seeking expansion opportunities.  

In the midst of heightened regulatory scrutiny on the crypto industry in the United States, Hong Kong emerges as an inviting destination for global virtual asset trading operators. Legislative Council member Johnny Ng has extended an open invitation to prominent exchanges, including Coinbase, to establish operations in Hong Kong. 

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Tue Jul 11 2023 Hong Kong Legislator Extends A Crypto Welcome: Global Exchanges Invited To Set Up Shop

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Prototype Global Cryptoasset Mapping System Developed

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Tue Jul 11 2023

Hong Kong Legislator Extends A Crypto Welcome: Global Exchanges Invited To Set Up Shop