Hong Kong lawmaker Johnny Ng has extended an invitation to the crypto industry, including Coinbase, to apply for registration in the region.
Coinbase Is Now Focused on Expanding Globally.
Hong Kong lawmaker Johnny Ng has extended an invitation to the crypto industry, including Coinbase, to apply for registration in the region. This comes as Hong Kong's Securities and Futures Commission (SFC) started accepting applications for crypto trading platform licenses, allowing registered firms to serve retail customers and adhere to regulatory rules against crypto incentives. Coinbase, which aims to partner with high-standard regulators worldwide, expressed its dedication to working with regulators in both U.S. and non-U.S. jurisdictions. The invitation from Johnny Ng arrives amid the ongoing crackdown on crypto exchanges by the U.S. Securities and Exchange Commission (SEC).
While Coinbase CEO Brian Armstrong had previously mentioned the possibility of moving out of the U.S. due to regulatory uncertainty, the company is now focused on expanding globally. Coinbase's Vice President of International Policy, Tom Duff Gordon, expressed the company's excitement about overseas expansion, including plans to establish a presence in Abu Dhabi, Canada and Singapore. Additionally, Coinbase aims to apply for authorization under the new crypto regime in the UK once it is finalized. Despite the global expansion, Coinbase remains committed to advocating for regulatory clarity within the United States, as they believe it is essential to stand up and fight for industry representation.
