{"id":80027,"date":"2023-06-11T14:51:40","date_gmt":"2023-06-11T11:51:40","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=80027"},"modified":"2025-09-11T14:22:17","modified_gmt":"2025-09-11T11:22:17","slug":"hong-kong-invites-coinbase-to-switch-jurisdiction","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/hong-kong-invites-coinbase-to-switch-jurisdiction\/","title":{"rendered":"Hong Kong invites Coinbase to switch jurisdiction"},"content":{"rendered":"<p>Hong Kong legislator Johnny Ng Kit-chong invited the cryptocurrency exchange Coinbase and other digital asset platforms to Hong Kong.<\/p>\n<blockquote class=\\\"twitter-tweet\\\">\n<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>\n<p>\u2014 Johnny Ng \u5434\u6770\u5e84 (@Johnny_nkc) <a href=\\\"https:\/\/twitter.com\/Johnny_nkc\/status\/1667499874521350144?ref_src=twsrc%5Etfw\\\">June 10, 2023<\/a><\/p>\n<\/blockquote>\n<p> <script async=\\\"\\\" src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>&#8220;I hereby invite all global virtual asset trading operators, including Coinbase, to Hong Kong for official operations and further development plans. Please contact me; I would be glad to provide any assistance,&#8221; he wrote.<\/p>\n<\/blockquote>\n<p>In an interview with <a href=\\\"https:\/\/youtu.be\/ZjLGyWsgbTA\\\">WSJ<\/a>, Coinbase chief Brian Armstrong expressed confidence that the United States would come to a &#8220;right resolution&#8221; for the crypto industry, &#8220;even if it takes time&#8221;. He believes that entrepreneurs who left the country would return.<\/p>\n<p>In October 2022, the local Financial Services and Treasury Bureau published a statement on <a href=\"https:\/\/u1f987.com\/en\/news\/hong-kong-eases-crypto-regulation-and-revises-stance-on-bitcoin-etfs\">the easing of restrictions on cryptocurrencies<\/a> and the readiness to engage with virtual asset service providers.<\/p>\n<p>In January 2023, Hong Kong&#8217;s Financial Secretary Paul Chan said that <a href=\"https:\/\/u1f987.com\/en\/news\/hong-kong-signals-commitment-to-developing-the-crypto-industry\">the readiness of the jurisdiction to welcome cryptocurrency companies<\/a> from around the world. The official noted that authorities had recently completed work on the licensing regime for the industry.<\/p>\n<p>In April, Hong Kong&#8217;s High Court <a href=\"https:\/\/u1f987.com\/en\/news\/hong-kong-court-classifies-digital-assets-as-property\">ruled that digital assets are property<\/a>. In the same month, local authorities <a href=\"https:\/\/u1f987.com\/en\/news\/hong-kong-authorities-urge-banks-to-service-licensed-crypto-firms\">urged<\/a> banks to service regulated cryptocurrency platforms.<\/p>\n<p>Bitcoin exchanges <a href=\"https:\/\/u1f987.com\/en\/news\/huobi-applies-for-licence-to-operate-crypto-exchange-in-hong-kong\">Huobi<\/a> and <a href=\"https:\/\/u1f987.com\/en\/news\/okx-to-apply-for-a-hong-kong-license\">OKX<\/a> submitted applications for a virtual asset service provider license from the Hong Kong Securities and Futures Commission.<\/p>\n<p>On June 5, <span data-descr=\\\"U.S. Securities and Exchange Commission\\\" class=\\\"old_tooltip\\\">SEC<\/span> filed suit against leading cryptocurrency exchanges <a href=\"https:\/\/u1f987.com\/en\/news\/sec-files-suit-against-binance-and-changpeng-zhao\">Binance<\/a> and <a href=\"https:\/\/u1f987.com\/en\/news\/sec-files-suit-against-coinbase-exchange\">Coinbase<\/a>. In Coinbase&#8217;s case, they refused to change their business model amid the regulator&#8217;s suit.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Hong Kong legislator Johnny Ng Kit-chong invited the cryptocurrency exchange Coinbase and other digital asset platforms to Hong Kong.<\/p>\n","protected":false},"author":1,"featured_media":80028,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[757,138,832,36,26],"class_list":["post-80027","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-brian-armstrong","tag-coinbase","tag-hong-kong","tag-regulation","tag-usa"],"aioseo_notices":[],"amp_enabled":true,"views":"25","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/80027","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=80027"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/80027\/revisions"}],"predecessor-version":[{"id":80029,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/80027\/revisions\/80029"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/80028"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=80027"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=80027"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=80027"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}