Hong Kong lawmaker invites Coinbase to operate in region amidst regulatory challenges.

Hong Kong lawmaker Johnny Ng has invited global virtual asset trading operators, including Coinbase, to register in the region amid a U.S. crackdown on crypto exchanges. Hong Kong's Securities and Futures Commission began accepting applications for crypto trading platform licenses on June 1. Coinbase is looking to expand globally and is waiting for approval to register in Singapore, while also hoping to apply for authorization under the U.K.’s new crypto regime. Despite the challenges in the U.S., Coinbase is not ready to give up on the country and is fighting for regulatory clarity.