Odaily Planet Daily News CoinDesk published an article analyzing the possibility of Coinbase relocating to Hong Kong, and stated that Hong Kong’s rule book itself is not that attractive to cryptocurrency exchanges. First, the number of tokens traded will be limited. According to Hong Kong’s securities regulator, the Securities and Futures Commission, a 12-month cooling-off period is required between token issuance and listing. Stablecoins, cryptocurrency derivatives, earn or lend schemes, staking services, and airdrops are also required. prohibit. Leo Weese, co-founder and chairman of the Hong Kong Bitcoin Association, said: “The existing framework in Hong Kong is very unattractive. The market is small and unproven, bank partnerships are non-existent, and products are severely restricted. The Asian market is different from Western markets. , Coinbase will not automatically succeed in Hong Kong, even if they are willing to give up their existing customer base. What makes Hong Kong potentially attractive is that many tokens are not considered securities.” Additionally, Weese noted: “Moving to Hong Kong is not "It automatically protects Coinbase from U.S. regulation or SEC regulation." So even if Coinbase takes action, it won't be a very productive decision. (CoinDesk) As previously reported, Wu Jiezhuang, a member of the National Committee of the Chinese People’s Political Consultative Conference and a member of the Hong Kong SAR Legislative Council, tweeted that global virtual asset exchanges (including Coinbase) are welcome to come to Hong Kong to apply for compliance exchanges and discuss listing plans, and he is willing to provide assistance.