Blog

Crypto Market News: Amid heightened regulatory scrutiny on crypto market ecosystem within the United States, Hong Kong Legislative Council member Johnny Ng is inviting international digital asset buying and selling operators to arrange store within the area. This comes after the U.S. Securities and Exchange Commission (SEC) concentrating on prime US based mostly crypto trade Coinbase with costs of violating securities legal guidelines within the nation. However, it’s argued that the SEC was knowledgeable about the identical operations when it permitted Coinbase’s IPO in 2019.

Also Read: Binance Declared “Illegal” By Nigeria SEC, Ordered To Cease Operations

Interestingly, the US SEC had talked about on the time in its documentation that the IPO approval doesn’t essentially forestall it from charging companies over violations in operations. Meanwhile, the crypto buying and selling group went via a shock with the again to again lawsuits in opposition to two of the world’s prime crypto exchanges, Binance and Coinbase.

Hong Kong Politician Invites Coinbase To Apply For Crypto License

Contrary to the regulatory surroundings within the United States, Hong Kong chief Johnny Ng had on Saturday wrote an open invitation to the likes of Coinbase and different crypto buying and selling operators to come back and apply for regulatory licenses within the area.

“I hereby offer an invitation to welcome all global virtual asset trading operators including Coinbase 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.”

Recently, Hong Kong made news by permitting retail buyers to commerce Bitcoin (BTC), Ethereum (ETH), and different cryptocurrencies. As a consequence, there was an increase in demand for a number of the Chinese crypto cash, though not as a lot as anticipated.

Also Read: Bitcoin Exchange Outflow Hits 1-Month High, BTC Price Pump Incoming?

Anvesh studies main crypto updates round regulation, lawsuits and buying and selling tendencies. Published round 1,000 articles and relying on crypto and internet 3.0. He is at present based mostly in Hyderabad, India. Reach out to him at anvesh@coingape.com or twitter.com/BitcoinReddy

The offered content material might embrace the non-public opinion of the creator and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The creator or the publication doesn’t maintain any duty on your private monetary loss.