- Hong Kong’s crypto exploration sets a step ahead in the crypto industry.
- Hong Kong sent an Invite to the Coinbase exchange.
Hong Kong, China turning out to register itself as the upcoming crypto hub. The recent updates with regard to Hong Kong depict the growing crypto exploration in the country. Meanwhile, the crypto assets regulation in Hong Kong is active even though certain countries in the West keep a step back.
As per the Hong Kong Monetary Authority (HKMA) information on Thursday, the Central Bank Digital Currency (CBDC) will soon be processed in Hong Kong. Considerably, Hong Kong is willing to expand its crypto operations thereby inviting Coinbase to the country.
Why Coinbase in Hong Kong?
As the crypto community is already abandoned by the recent SEC activities towards Coinbase and Binance, Hong Kong has invited Coinbase to take part in its position there. However, the government may ponder Hong Kong’s crypto action as a test. Subsequently, this concerns no harm to the financial revenue and its stability in the country.
Regardless of the sue, crypto investors support Coinbase irrespective the constraints being said. Furthermore, Coinbase’s CEO described that the crypto is the most updated financial system so far and it keeps on continuing. Moreover, the recent HKMA report said:
“While it appears that e-HKD might not have an imminent role to play in the current retail payment market, we believe prospective use cases for e-HKD can emerge quickly out of the rapid evolution, or even revolution, in the digital economy.”
Also, the crypto exchanges namely Huobi and OKX have already been listed on the Stock Exchange in Hong Kong. This time, Coinbase’s invite gives a quick turn and mentions, California’s Coinbase hasn’t responded to this concern.
