Hong Kong extends invitation to Coinbase despite SEC lawsuit

Hong Kong legislator Johnny Ng has invited Coinbase and other global virtual asset trading operators to establish operations in the region, citing the government's dedication to establishing a strong ecosystem for crypto and fintech. This comes after the recent SEC lawsuits against significant industry players like Binance and Coinbase. Hong Kong has embraced a proactive approach towards cryptocurrencies, with the HKMA recently revealing its intention to establish the groundwork for the introduction of a retail central bank digital currency.