It looks like Coinbase has been invited to move to Hong Kong by regulators. This is happening amidst the SEC lawsuit that’s taking place in the US as a massive effort to kill crypto. Check out the latest reports about this below.
Coinbase to move to Hong Kong
According to the latest reports, it seems like Hong Kong is offering Coinbase the chance to expand to the region as US regulators crackdown on the digital asset industry.
The online publication the Daily Hodl notes the fact that Johnny Ng, a member of Hong Kong’s Legislative Council, wants to help Coinbase and other digital asset companies relocate to Hong Kong.
“I hereby offer an invitation to welcome all global virtual asset trading operators including Coinbase to come to Hong Kong for application of official trading platforms and further development plans. Please feel free to approach me and I am happy to provide any assistance.”
According to the same reports, the invitation over Twitter comes days after the U.S. Securities and Exchange Commission (SEC) filed lawsuits against top crypto exchanges Binance and Coinbase.
Just to refresh your memory, the SEC accuses Coinbase of securities violations and failing to register as a broker-dealer, and Binance of several different violations.
“While regulators are on the offensive in the US, Hong Kong has taken steps to become more accommodating to the crypto industry,” according to the online publication.
SEC in the news
The U.S. Securities and Exchange Commission (SEC) has been reportedly asking the courts for permission to track down Binance CEO Changpeng Zhao in an “alternative” manner.
As the online pubcalition the Daily Hodl notes, “in a new court filing, the SEC asks the District of Columbia Court for permission to freeze the assets of the companies operating as Binance.US: BAM Trading and BAM Management, as well as be able to serve Binance CEO Changpeng Zhao via unspecified non-traditional methods.”
